Renting out a new office space involves so much more than finding available building space to suit your budget. There’s a whole host of considerations you need to take into account to do with the office move that we’ve put together some useful tips to help you on your way.
What kind of commercial lease do you need? – a commercial lease is basically a contract between a landlord and a business tenant which gives the tenant the right to occupy the property for a period of time. It is also a contract that details the rights and obligations of both parties and outlines the process to be followed if there is a problem. You need to consider whether you require a short term or long term lease taking into account, for instance, your expansion plans. If you’re planning to be in a position to take on new staff over the next few years, you should consider a shorter lease. The length of a lease should also reflect the state of the building being rented – longer leases are more appropriate for high-quality premises, short or fixed-term leases.
Is it the right time? – whilst it may seem like a nice idea to move offices, assess the effect it will have on your productivity and profitability in order to make sure it’s the right time to begin such an undertaking.
Relocation budget – the process of moving can be a very costly business alone, so keep a tight reign on your budget. Make sure you get quotes from all the suppliers you approach in order to be certain of exactly what you’re committing yourself to.
Renovation – ask your future landlord/s about their plans for the building. If there are major upgrades on the horizon, this may have an effect on your service charges.
Parking – if there aren’t enough allocated parking spaces to go round, where will visitors and members of staff go to park? If they have to use public car parks, find out if there’s a way of negotiating discounts for them.
Image – does the new office space reflect your brand image? What impression will visiting clients get of your company when they visit? It’s important that you look like a successful business, but if you go overboard on the office layout and decor, they may start thinking you’re charging too much.
Key staff – if there are any members of staff you really don’t want to lose, make sure the new office location is good for them. If their commute becomes more difficult or they end up having to travel further to work, they may end up looking for another job that’s more convenient for them.
Communication – keep your staff informed about all aspects of the move. Major changes like this could cause anxiety, so the more they’re kept in the loop, the less uneasy they should be.
If you’re considering an office move in Central London do not hesitate to get in touch , our property consultants are ready to help.