Selecting the right premises and location for your business is an important decision, whether you are just starting out or growing an established business, looking for office space or searching for a large warehouse.
Here are some key things to consider before embarking on your search:
- Identify the type of premises you need (e.g. office space, retail unit, warehouse). Could a co-working space work for you?
- Work out how much space you will need. Do you need space for equipment or storage?
- Think about location – Do you need to be close to transport links, your customers, suppliers or even your competitors? Does the business need to be in a town centre location or could it be on a business park?
- What infrastructure might you need (e.g. utilities, security, parking)?
- Think about the future. Are your requirements likely to change in the near future?
- Are you looking to buy, rent or lease?
- Consider your budget. How much can you afford to spend on your premises and running costs?
- Are there any special features or services you require (e.g. air-conditioning, double-height space, cabling, power)?
- Draw up a specification list for your ideal business premises, then decide which are essential requirements and which are desirable.
The Royal Society of Chartered Surveyors – RICS are a good source for guides and information for commercial property. Visit website
