Just like searching for any form of property, trying to find office space that is right for your company can be a real challenge.
It’s rare to stumble upon the perfect office space, however so long as you tick off most of the ‘essentials’ on your checklist along with a few of the ‘desirables’, you will have done a great job.
And what a lengthy checklist it is. Countless factors need to be incorporated into the search in order for the correct decision to be made when it comes to signing the contract. Here’s a snapshot of key considerations:
Location, location, location
The most obvious and perhaps most important element of any property search is in itself complex. Does it benefit from good public transport links? What would the commute be like for car drivers? Do you require loading areas or easy access to the road? Is it in a thriving area? Who would your neighbours be? Is it secure? Are your competitors/customers nearby? Are there good local amenities for your staff to benefit from?
These are just some of the questions you’ll need to ask yourself when trying to narrow down the options of the area you’re searching in.
The office itself
Assuming you’ve got the location right, the space within and surrounding your building needs to work on many levels. Practical points such as, natural light and utilities require assessment. Then there’s the actual work space – does it allow for potential growth? Will all your current staff fit in? Is there scope for private/confidential meetings to take place?
Costs
Rental/purchase price will obviously come high on your list but what of the other financial implications? You may need to buy more office furniture to accommodate a new layout/more space, implementing a new IT system can prove costly and the energy costs of the property cannot be overlooked.
Then there are the fees associated with the move itself – legal, removal, agents, insurance. It’s also worth considering that by having a new company address; some stationery will require updating, including letterheads, invoices, business cards and merchandise (depending on your business).
Environmental impact
Considering the environment and sustainability is more important now than ever and certainly shouldn’t be overlooked. Clearly, you’ll already have access to the Energy Performance Certificates (EPCs) but what is its Building Research Establishment Environmental Assessment Method (BREEAM) rating?
Whilst EPCs are used to grade how energy efficient a building is, BREEAM sets the standard for best practice in sustainable building design, construction and operation. You should look into assessing the performance of the double glazing and air conditioning, and even carrying out some thermal testing to ensure that the property is as energy efficient as it possibly can be.
IT and phone network
This is a really important issue to focus on, particularly if you are moving into an older building which may not be set up to host a complicated IT network. Though this isn’t a common occurrence given today’s reliance on technology, it can happen. Check out the power supply, cabling and potential internet speeds when assessing the viability of a property.
Obviously, this list is not exhaustive; in fact it barely touches the surface. If you are relocating or setting up a new office through an experienced landlord then you will have a head start as they will help to ensure that all bases are covered.
This article was kindly provided by Pearl & Coutts, specialists in quality residential and commercial property lettings in London.