Commercial Office
How To Choose The Right Commercial Office Space
Let’s face it, in today’s world competition is fierce! There are many people like you out there looking for the same thing in the same way.
Finding a commercial office space in London, New York, Tokyo or Chicago and beyond is simply not just a hit and miss method.
Doing your homework properly is as MORE important than rushing out and looking for the first available space in the market.
Currently office properties are probably around 15%-25% below their true market value – this is in effect because of the recent recession and stock market crash.
But if there is one thing you can be sure of, it is the fact that prices are on the raise again! The economy is improving slowly and landlords and commercial property owners are taking advantage of this fact.
SO HOW DO I CHOOSE THE PERFECT OFFICE SPACE FOR MY NEEDS?
This is a question which is a VERY very important one for the ensure future success of your business.
Firstly one should consider whether or not it is necessary to choose an office space at all or whether it is not more prudent to make use of your home or garage as a temporary office space until profits grow exceedingly.
If you feel that waiting is not an option then I suggest the following 5 points:
1. Make sure you understand the LANGUAGE of commercial property.
This includes business rates, service charge, rent etc…
A misunderstanding of business rates could set you back thousands of pounds per year.
YOU MUST UNDERSTAND THE KEY LANGUAGE OF COMMERCIAL PROPERTY
2. Visit AT LEAST A BARE MINIMUM OF 20-30 properties before making a decision
Phone commercial property agents, tell them your needs and visit a bare minimum of 20-30
When I look for a commercial property in London – I phoned 30-50 agents told them about my specific
requirements and FINALLY after a long dreaded search did I find a suitable location.
3. DO NOT GIVE UP – Keep looking UNTIL you find the perfect property
4. ALWAYS instruct a COMPETENT commercial solicitor
To avoid nasty surprises you MUST instruct a solicitor to look at the contracts.
He or she will have the power of negotiation and help you seal a PROPER deal.
5. If you cannot find the PERFECT PROPERTY – wait – the coast ALWAYS CLEARS!
The property should preferably be low-cost unless luxury is needed.
If you cannot find the perfect commercial office space then wait – the coast will clear!
If you are living in London and need to find a commercial property space I suggest the following sites:
# London Office Space
# Find a property
# Gumtree.com
About the Author
Stefan Joubert is the founder of London Office Space a keen lover of music, investing and business.
Charlotte NC Commercial Building Office Space for Lease
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