5 Tips for Choosing a Commercial Property
Choosing any sort of property can be daunting. However, choosing a commercial property for your business, regardless of whether you are buying or renting, is a particularly arduous task. This is largely because of the many considerations that you will have to factor in, considerations that will affect not only you, but your employees, clients and the future success of your business.
Done properly, though, opting for a new commercial premises could potentially catapult your business forward and, as such, should be an exciting task to embark on! With this in mind, this month the team at Radford Group will be offering five tips on how to choose a commercial property.
Firstly, there’s your budget. Whether you plan to buy or rent, having a budget in mind every step of the way is vital. That said, opting to buy will need greater consideration, since you will have to factor in what mortgage you could get to make your purchase feasible, and the current financial situation of your business.
The location of your new premises will depend on a number of factors. For example, some firms will want to look at the convenience the place in question offers for employees, customers and suppliers. Other firms, however, particularly retail firms, will be worried about things such as footfall or the locations of competitors. London may be a popular choice for some, but you will need to offset the potential customer traffic with the cost to rent.
Buy or rent?
So, to buy or to rent? Many businesses will opt to rent their new property, largely because this will include a lower investment of capital upfront, meaning that, further down the line, relocating to a new property will be much simpler.
There are plenty of legal considerations when choosing a new commercial property, from planning permission and accessibility to fire regulations and insurance, all of which need to be factored in. To help with this, seek advice from a solicitor before you make your decision.
What to look for
Ultimately, one of the most crucial points to consider is whether you can see your business growing in the space in question. For those companies opting to rent however, you will also need find out whether the property itself comes furnished, whether the utilities are included in the price and whether you will need to pay a monthly service charge.
Once you’ve chosen your premises…
Finally, once you’ve chosen your premises, whether it’s been bought empty or the current layout isn’t suitable, you will need to make sure you choose a reputable company to fit it out. Here at Radford Group, we offer an exemplary refurbishment service to all of our commercial clients, and you will be hard-pressed to find a better company for the job!
Do you need a hand fitting out your new commercial premises? Look no further than Radford Group. We provide our customers with exemplary service and this is always reflected in all aspects of our work. Based in Suffolk, we serve numerous locations with loose furniture, fixed seating, bespoke upholstery, soft furnishings and curtains and fit-outs. So if you would like to find out more information about our services or wish to get started on your contract furnishings – please get in touch today!