The Key Requirements To Focus On When Looking For Commercial Property
Whether you are a small business looking to scale up into a new office space or an expanding enterprise looking for their next storefront, finding the ideal property for your business is a complex job, one that is made easier with the help of property acquisition agents.
Once you supply your specific desires, requirements and budgets, an expert will search for both on-market and off-market properties to try and find the perfect one and handle as much of the sales process as a client wants.
This could be as simple as finding a list of suitable properties, but could also include negotiations, buying the property anonymously, arranging conveyancing checks and working with legal experts to draft a suitable contract.
With that in mind, here are the primary requirements to focus on when you look for commercial property.
How important your location is will depend on the nature of your business, how much you rely on foot traffic and how easily customers, clients and employees can access the property.
Bear in mind that there is a tradeoff to a great location; the better suited your location is to customers, the more expensive it will be to lease and thus the less space you can get for your budget.
Scope For Modification
When you buy a property, be sure to check what you can and cannot do with it, especially if you plan on modifying a building so you can change its use, for example by converting a standard shop into a restaurant.
If you are uncertain about what you will be allowed to do with a property in keeping with building regulations, contact your local authority.
Consider Your Lease Rights
Most commercial property is leased for several years, and you must check all paperwork you receive carefully in case there are clauses that prevent you from breaking the lease in the event you go out of business, require you to provide a personal guarantee or prevent subletting.