How to find a new office space
Finding the right office space needn’t be a nightmare. With the right approach, it can be an efficient process that leads you directly to your ideal premises. So, how’s it done? We outline the five key stages you’ll need to undertake.
Give notice at your current premises
Firstly, check your existing office lease to see when it’s due to be renewed or to expire. Make sure you fully understand all your obligations. Then, write to your landlord, giving the appropriate amount of notice, and send the letter by recorded delivery.
Contact Commercial Property Agent
Make a list of requirements for your new premises. Involve your senior management team and ensure everyone agrees on the key reasons for moving and what you hope to achieve. Use the Office Space Calculator to review how much space you’ll need in the new premises. Then, communicate your requirements and budget to a respected Commercial Property Agent and seek their help in narrowing down the options available in the marketplace.
Inform your staff
Keeping staff informed of the move is vital. When you announce the move, communicate positively and make sure you explain why you’re moving and how everyone will benefit. Emphasise that this will be the first of many regular updates on the office move as it progresses.
Visit the offices spaces
Before viewing your shortlisted properties, print a copy of the Office Space Checklist, so you can evaluate each property according to your requirements. Additionally, ask your property agent to prepare a current market analysis of rents and lease incentives in the local area, so you can evaluate the potential rent you could achieve.
Negotiate and sign the lease
As lease negotiations progress, ensure your property agent is negotiating in line with your priorities, paying particular attention to the length of lease, contribution to the office fit-out and rent-free periods. Once you’re satisfied with the proposed lease, ask a Property Solicitor to review the final lease documentation before you sign on the dotted line. Once you’re happy with the lease terms and understand your new obligations, sign the contract and arrange for a deposit to be transferred to your landlord’s account.
Visit our Moving Office Resource Library for all the tools and checklists you’ll need to find new premises with ease.
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