Finding the right commercial location for your business is an essential ingredient in any successful enterprise. With close proximity to transport networks and industry contacts businesses can get off on the right foot. Acquiring office space to let in London need not be so taxing despite reports of shortages within the capital.
There are commercial property providers in London that can offer a range of business centres in some of London’s prime commercial locations. Many properties also offer attractive amenities to small and medium-sized enterprises (SMEs) as well as start-ups, making them a great choice to help develop your business presence.
Here are a few things to consider when choosing viable commercial space to rent that not only provides growth potential but great facilities as a valued tenant.
Property size
The size of property you select will vary depending on the amount of employees you may have, the amount of equipment you require and how long you intend to stay at the property. The golden rule is not to overstretch yourself on your first property as a start-up. More established companies can look to larger office space that gives them the freedom to expand.
Location, location, location
Selecting the right business accommodation for you will depend on the nature of your business. Draw up a list of requirements a business in your industry needs. Do you need to be close to tube stations and bus stops for employees and clients alike? Perhaps you need suitable loading facilities in order to take deliveries? How would the areas in question suit your business image? These are all things to consider about how location can enhance and detract from a business persona.
Rental fees
For start-ups and SMEs serious about securing business space in the capital you should draw up a list of estimated outgoings before committing to any premises. It is important that your projected income is capable of covering these costs and still keep you in profit. When browsing available properties look carefully at what is included in the rental packages. Some may be inclusive of utility bills and some may also include cleaning services as standard.
Where to find properties
Searching online can invariably deliver the best results. Commercial property agents and brokers have a good knowledge of rent levels in the area and are able to inform you of the realistic price you should be paying for any given premises. It is also worth keeping an eye on high street estate agents who may also be tasked with advertising commercial accommodation. Don’t be afraid to trust word of mouth either – if you receive personal recommendations you can obtain an honest of view from someone who has worked there themselves.
Philip Hodgkinson, Communities Manager at Workspace Group – marketing professional with a specialist interest in online marketing, social media and the entrepreneurial community
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