When thinking about a new commercial property, it’s easy to get excited about what might be and forget about the little things that would allow your business to get the most from its new premises.
Here are six things to take into account when considering a change of commercial property:
Location
When looking at the location of the premises, take into account where you conduct the most of your business. A retailer for example may need to be in a central location whereas a goods company may require good transport links and therefore look at something on the outskirts. Not considering this when changing location could add unnecessary costs and delivery time.
The space
You may be looking for an industrial unit that requires a high eaves height, or perhaps you take deliveries from a low loader and hi-ab so need a spacious yard with a turning circle. Whatever your requirements, ensure you make a list of the basics that you need your new premises to provide, the amount of space needed is one of them.
Your employees
Making sure your employees are looked after is sometimes overlooked. If they currently have free parking in a private car park, they won’t like having to pay for their parking when you relocate. Something else to take into account is where they live. Can they commute easily to the new premises without too much traffic? Taking these small things into account and taking employee needs into consideration will protect your company and reduce the risk of people jumping ship during the move.
Look to the future
When looking to buy your new commercial property, don’t just plan for the here and now, look to the future. You may be thinking of expanding your office capability and may therefore need more office space in a years’ time than you currently have. Taking the future into account ensures you provide yourself with enough space for your business to expand, without having to move again.
Timing
When deciding when to move, you’ll need to look at the terms of your existing property. If your contract is coming to an end quite soon, you may find this fits nicely with acquiring a new property. Alternatively, you may need to look into it in more detail to ensure you don’t incur any costs, particularly if you lease your current property. You’ll need to plan your move in advance, ensuring the least amount of disruption to your business. It may therefore be better to move in your quieter period if this is possible to reduce the impact.
Site restriction/licences
Make sure you check any restrictions. Specified trading times may be in place which would confine your hours of operation so it’s important to question if these exist before going ahead. On a more positive note, you may find the desired site is part of an enterprise zone which provides tax breaks and Government support. Either way, ensure you ask about any site restrictions or agreements that may exist.
Above all, keep an open mind. At first, a building may not look like the right building for you however such a building may provide the flexibility to be able to tick some of the boxes above meaning you keep your business running as smoothly as possible, with minimal disruption during your transition.
As experts in the commercial property field, we’re on hand to answer any question you may have about changing your business location. Our proactive approach ensures you receive the best advice on the purchase of a new property. Click here to find out more or search our current property listings.
