Finding the perfect commercial office space is crucial for the success of any business, as it promotes productivity and increases the wellbeing of staff members. It can also play a huge role in highlighting the image you want your company to represent, whether that’s showing that you’re friendly, welcoming or successful.
As a result, this blog will explore the steps you can take to find the perfect commercial office space for you.
These steps include:
Step 1: Define your budget and what you’re looking for
When it comes to looking for an office space, or any new property in fact, it’s important to figure out exactly what you’re looking for and what your budget is. Factors you should consider, include:
- The size of your team and how big of an office you’ll need
- Location
- Does the property need to be furnished before you move in or can you furnish it yourself? What’s your budget?
- How close do you want to be to transport links?
- Does your budget allow you to purchase a space or do you want to rent one?
Establishing a budget will allow you to properly organise your money and reduce the risk of financial strain.
You can also ask your staff what matters to them to give you a better idea of what the perfect space would look like for you and your employees. For example, Forbes found that 87% of workers want their employer to offer healthier workplace benefits, such as:
- Wellness rooms
- Company fitness benefits
- Healthy lunch options
Step 2: Research what’s available on the market
Conducting market research on the commercial office spaces available will give you a good idea of what’s out there and whether the properties in your budget meets your business’ needs.
You can use online real estate platforms, ask your network if there is anywhere they recommend or know is available and research local offices in the location you want to move to. While doing this research you can also make note of any common terms in lease agreements and any incentives that may benefit you when you make a purchase.
Step 3: Visit spaces
It’s essential when looking for an office space to view the property before paying. This gives you the opportunity to get a feel for the space and whether it would be the right environment for your business.
When viewing an office space you should also take note of:
- The layout
- Whether it has natural lighting
- Any repairs that need to be made before you move in?
Step 4: Think about where you want to be located
A key thing to consider is where you want to be located. Ultimately, it’s wise to aim to be located near employees, customers and clients, as well as transport links to make the office easily accessible. This will encourage people to come into the office more, helping you make the most of the space you’re paying for.
Step 5: Review the lease terms
Reviewing a building’s lease terms is an important step when looking for the perfect space as there may be policies that you don’t agree with. When looking at the agreement you should watch out for things like:
- Rent duration
- Rent escalations
- Maintenance responsibilities
- Additional fees and charges
To learn more about what to look out for when leasing a commercial property, read our blog.
Step 6: Consider whether you can grow within the office space
Another important step is to consider whether you need an office that will allow you and your business to grow. However, it’s important that you don’t lose sight of what needs you want the space to fulfil right away.
When trying to figure out whether a commercial office has room for growth you should ask yourself questions like:
- How much floor space is there?
- Is there any flexibility to modify the space?
- Is there an opportunity to expand the space, such as renting our building an extension or other office space?
Commercial office spaces at Millennium Point
Here at Millennium Point we have a variety of office spaces available to lease that could be perfect for you.
They also benefit from flexible ownership and having our friendly team on site to support you with any queries you may have.
If you’re looking for short-term office leases we have three properties, including:
If you’re looking for a long-term lease, Curzon view is available.
To discover more about how these properties could work for you, get in touch with us today.
