In all, honestly venturing into the commercial real estate market without the help of an expert is inadvisable. Because as opposed to residential space, finding the right commercial space is a more difficult task. Here, the stakes are higher; lease tenures longer, and repercussions of wrong decisions, extremely damaging to company finances.
But if you’ve taken it upon yourself to find the perfect office space for your company, here are a few things you need to consider:
What’s the nature of your business?
The type of business you’re in, dictates the type of office space you’ll need. So, if you’re a business that’s mostly operational with minimal client or customer interaction, opt for a property that offers more cubical space than meeting rooms. A commercial park that has shared meeting rooms could also work well. For a customer or client-facing business, bigger reception areas, waiting lounges & meeting rooms should be a top priority. If you’re a business with specific needs, like a tech company that requires efficient network connectivity, or a back-end office that works 24x7, ensure that the space you choose supports the infrastructure or demands of your business.
Find an accessible & suitable location
In our opinion, an office address can speak volumes about a company’s reputation, financial stability and credibility. However, the ideal office location is not just one that would look good on a visiting card but also one that’s easily accessible to key stakeholders like clients, customers, vendors and more importantly employees. We recommend setting up shop in a location that’s easy to find, safe and close to everyday transit routes. Remember, a remote location or locality is bad for business
Amenities in and around the office space
Today, office buildings and corporate parks are already equipped with everything businesses & employees need – open outdoor spaces with Wi-Fi connectivity, parking areas, canteen services, fitness centers and even concierge serviced meeting rooms. We believe that having access to such shared amenities could significantly reduce the cost and space required to house them within the confines of your own office.
Having a variety of restaurants, cafés and cool hangout spots around the office area is also a something that would greatly appeal to employees. From our perspective, commercial properties with amenities that cater to your business and employees are the ones worth investing in.
Pick an office size that’s future-proof
Finding the perfect office size for your business can be quite tricky. But you can get it right by choosing a property that can comfortably accommodate your present head count as well as sustain your future growth. Given the fact that lease tenures for commercial spaces range from 3-5 years, it’s only smart to ensure that the size of the property you’re choosing is future-proof. If your business is unable to bear the cost of extra space, we recommend you negotiate a shorter lease term or add a clause that gives you first right to adjacent spaces that become vacant in the future. This will ensure that you won’t have to move to a different location once your business grows and employees increase.
The above guidelines can only go so far in helping you pick the right office space. Negotiating a great deal, without having to make any compromises, still requires the expertise and knowledge of a Real Advisor. To get in touch with one today, visit https://www.3cainc.com/