When you’re looking to start a business or to find larger premises the first thing you need is to find a commercial lettings estate agent. Unlike the residential market, businesses don’t tend to buy or own outright a building that they wish to operate from so you need experts who are well seasoned in this field.
Jacobs Steel is not only an expert in this domain but recently had hands-on experience in the commercial property market when they merged their sales and lettings teams together in central Worthing.
As with any move, there are lessons which are learnt along the way. Some transactions are more seamless than others but there are things businesses can look out for when thinking about their next commercial property venture. Here, Jacobs Steel offers its top five tips.
1. Have a clear plan of what your business needs – depending on the type of market you are in will to some extent define your requirements. But remember, your business or model may change so you need to consider how the space could work for you if you were to grow. This isn’t just inside the building, there are outside considerations that must be addressed too like parking and storage facilities.
2. Utilise your business plan to decide length of lease – whether you are a start-up or an established household name, when looking for a new commercial property it is advisable to revisit your business strategy and look at the plan for the future. Most leases are typically three or five years in length so a new or young company may consider choosing a shorter option to begin with.
3. Protect yourself from your rivals – when negotiating a new lease, particularly in the retail sector, seek to get a clause written into the contract that states that your landlord won’t let adjoining or neighbouring premises to a business that offers similar services or products. This will protect you against losing footfall to a direct competitor.
4. Understand what you will be paying for – whether it is additional services such as cleaning, internet lines or general upkeep and maintenance of the building, ensure you know what you are responsible for. Not only is this important for budgeting, but by knowing this in advance means you can negotiate areas before you sign on the dotted line.
5. Instruct or seek advice from an established and reputable estate agent – the chances are you won’t have knowledge about what the going commercial property rates are or what you should and should not see appearing in a contract. A company that specialises in renting commercial property will have exactly this insight and more. They can guide you through the procedures, secure the best deal and make the negotiation processes as seamless as possible for you.
If you are looking for a commercial property estate agent and want to know more about how we can help and represent you, call Jacobs Steel on 01903 792785. We have more than 38 years of industry and local knowledge, and a passion for helping people with our professional and friendly advice. But don’t just take our word for it – we have received more than 900 5-star Google reviews!