Top Tips For Leasing A Commercial Property In London

26 Feb

If you have decided that you need to start or relocate your office or business to a new place, London offers the best opportunity as a land of opportunity. However, to find office space London can be an expensive and difficult task. You may still be able to wallow in the abundance of choice of many spaces that you can find.

office space northampton

office space Northampton london

However, negotiating a short or long-term lease is generally complex and requires an individual to take caution and exercise diligence. This can help you avoid getting into a bad deal that will make you lose your money. Truth be told, some property owners or agents will provide you with a long list of requirements or conditions that are difficult to meet. Because of the urgent need to establish your office, you will need to go through these tips to help you find the right commercial property.

The location of your office is a key component that will influence your business. Although London has a good network of roads and railway systems, you can still find yourself renting space that is far from the closest transport link. So, simply focus on the exact place that you would like to have your office. The nature of your business will have much influence on the location of the office space.

The other aspect that correlates with location of the office is the impression created by the building. Different architectural designs give different impressions that have meaning in the business world.  If you prefer a modern look, you can select a building that has been build based on modern designs.

The type of business, for example, antiques businesses may prefer locating their offices in Ladbroke Grove while a business trading in jewellery would like places around Hatton Garden and so forth. Again, the neighbouring locations will have a massive impact on the impression and performance of your office.

While negotiating for the lease of the space, the term and cost of the lease comes as one the key negotiation aspect on your list.  Many tenants are tempted to sign up a lease contract that seems sweet only to be found frustrating in the end. The trick is to avoid over-committing your budget because of the longevity of the lease term.

If you are not well versed with the market situation of the city of London, it is good to liaise with the local real estate agent or broker who can negotiate on your behalf. Here, you need to be careful since the real estate agent is working for the principal (property owner), and so, you may need the help of a real estate lawyer.

It is recommended that small businesses enter a lease contract of one to two years with a provision of renewal if the need arises. It is a normal scenario to have rent increases over the period of the lease. Negotiating with this piece in mind will save you from the inconveniences caused by unexpected rent increases that come without timely notices. If this does not happen, you may compromise the cash flow of your business.

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Space To Work: Finding Office Space In London

19 Jan

When it comes to office space, London should be an area that inspires confidence in your clients and productivity in your employees. Moving to a new space can be difficult, of course, even for those who are quite used to making the move. If you want to find a better space, you might want to consider these helpful tips that often escape the notice of even the most seasoned of corporate movers.

office-space-london

Reviewing Access

Access to and from your office space should be a primary concern, especially if you have employees working at all hours of the day. Try to make sure that you understand the security implications of having various workers coming and going from the space, and make sure that you know the security precautions that will be put in place to allow you to keep your employees working on schedule. This might mean asking about building security in some areas or arranging for your own system in others, so make sure that you know what needs to be done before you agree to a lease. Once you have figured out whether or not you feel comfortable with the security situation in your new space, you might want to consider a new factor – whether or not it can fit your growth needs.

Considering Growth

Any good businessperson knows that a good office must be slightly larger than necessary. What many forget, though, is that growth is in terms of not only office machinery and employees but also the ability of the space to keep up with regulations. As your office becomes larger, you may need to install additional employee restrooms or make particular changes to help individuals who are not able.  You should always make sure that your company’s space is large enough either to handle new regulatory necessities or that it has the ability to be expanded in a time of need. Should the space fit, it will soon be time to consider the cost – but you should always be careful to consider whether or not a deal is too good to be true.

The Landlord Offers

While London working space is often at a premium, there are spaces that are rather hard to let.  If an office has sat on the market for a significant period, many proprietors will begin to offer potential tenants any number of enticements to enter into a contract. As a rule, you should always take a moment to consider the nature of the offer versus the space presented. If you look at a lovely space and the landlord is offering a significant rent reduction or promises of special services, you might want to look deeper into the property’s history. Likewise, you should always be careful to make sure that any enticements given are actually written out in the lease — a promise, after all, is only worthwhile if it is in writing.

Top 3 Christmas Decoration Ideas for Business Office Spaces in London

20 Dec

When it comes to Christmas, owning an office or store in the busy London streets, can be a great time, as you look at the most modern decorating ideas that will not only bring festive cheers to your office employees, but make your customers and clients feel jolly too! Christmas decoration ideas for business office spaces in London can range from the more traditional in terms of style and colour, or they can be extremely trendy and modern. The look you prefer all depends on what type of business you have, and whereabouts in London you are located. Main streets such as Piccadilly, Oxford, Harley, Kensington High Street, Camden High Street, Portobello Road, Savile Row and various others give businesses the opportunity to go all about with decorations when it comes to Christmas.

Here are the top 3 Christmas decoration ideas for business office spaces in London that are easy to pull off, that are very attractive, that do not distract or detract from work productivity, and that appeal to customers.

Modern Christmas Tree

modern-christmas-tree


The Christmas tree is a simple, yet very effective way to decorate your office, and most of the time, this will suffice as your only form of Christmas décor. The trick to pulling off a remarkable Christmas tree is to decorate it like a designer and choose a colour scheme or theme. Firstly look at what your business is about. If you are a music production office, how about a funky Christmas tree that utilises hanging music notes, and CD’s as decoration. You can choose to do a red and white tree, which will be very visually appealing.

Another modern Christmas tree that designers love is the simplistic LED lit ones. This requires no decoration whatsoever, and looks extremely funky and beautiful. You can choose from the simple white LED lit trees, and you can even get a bigger impact by lining up a row of them in your office windows. You can also go for the multicolour LED tree which will take the predominant place in your office.

Other modern color choices for Christmas decorations include Sage, mauve, antique gold, turquoise, pink, maroon, copper, blue and teal.

Hanging Decorations

For most offices, any table decor or strings of tinsel around work spaces often get in the way and start to become messy as the season progresses. Instead, create a stunning effect by bunching Christmas baubles together in a long hanging ornament which you can hang from the ceiling above each work station or randomly around the office. You can also go for modern colours like pink, sage, and teal, or light blue and silver. You can always go for the colours that are in your logo too.

This is one of the hottest ideas for Christmas office decoration in London and many people nowadays prefer to use small amounts of large, bold decor as opposed to cramming lots of little decorations into the space.

Christmas Lights

Christmas-lights

One of the best Christmas decoration ideas for business office spaces in London is to use lots of lights. The new tiny battery operated LED lights are perfect for office windows and the curtain net lights are easy to install and have a striking overall effect before you have even done any other decorating.

These are the top 3 Christmas decoration ideas for business office spaces in London that will have the biggest impact and make your work environment exceptionally fun and welcoming for the festive season.

Why Business Owners Should Find New Office Space During the Recession

30 Nov

Conventional wisdom would have it that the midst of a recession is a time for business owners to run and hide. Batten down the hatches, reduce all risky moves and wait out the economic storm in the hope that they can raise the sails once the worst has passed. A recession is no time to expose a business to risk.

In most cases this holds true. The current global recession has put everyone on the defensive, and most business owners have responded with caution. Nobody dares take risks; one wrong move could sink a business.

However, that isn’t the whole story. In fact, the depths of the recession can present businesses willing to take measured risks with great opportunities for short term benefits and long term growth.

 Moving in a Renter’s Market

The leasing of office space makes up the lion’s share of the overhead for most companies, and this is especially true in cities such as London and the business centers of mainland Europe. Even after several years of recession and glacial growth the property markets in Europe’s business centers are still expensive, but there are opportunities there for those who can find them.

Right now it’s a renter’s market. Most businesses are loathe to move to new office space; they don’t want to lay down even a penny of capital, and they certainly don’t want to make any long term commitments with the uncertainty of the coming months and years. As a result the rental market has become relatively stagnant. Few new leases are being signed, and landlords are surviving on the revenue from their existing tenants.

Taking Advantage Of the Downturn

As a result of this stagnation it’s possible to secure excellent terms on prime office space. Those businesses willing to risk a move can find leases with relative ease that offer rent free months, flexible lease conditions and even the occasional incentive such as free parking, bundled utilities or cut priced janatorial services. Some lessors may even offer a rental rebate up front to cover the cost of modifications to your specifications. Landlords are desperate to lease their space, and the power is very much with renters.

The greatest perk here is the free rent that may be offered to lure in new tenants. Depending on the length of the lease, several months free rent as a ‘moving in’ bonus could reduce your effective rent considerably – perhaps even allowing you to occupy larger premises at a lower cost (over the life of the lease) than you currently pay. For example, when UBS Financial Services recently leased new premises in Manhattan’s Park Avenue their ten year, eight month lease came with nine months of free rent and an allowance for work on the property, reducing their effective rent from $75 to $56.99 per square foot.

Cutting Costs to Survive the Recession

While moving into larger premises may be appealing, perhaps a more sensible option would be to trim overhead by transplanting to a smaller space. If your current lease allows you to move it may be worthwhile to work out exactly what space you need to function right now, and how much you’ll need to account for modest growth over the next few years.

If you’re currently leasing London office space in the heart of The City you may be surprised at just how much you could save with an incentivized move to smaller premises nearby.

Why You Should Act Now

While the market can be cruel and unforgiving it’s a fact that it often rewards risk takers. Right now the opportunities for those looking for new office space are attractive, but as the economy grows – no matter how sluggishly – the demand for office space will once again increase and the incentives will begin to vanish.

Those business owners willing to take a chance will find leasing terms more attractive than any they are likely to see in the future, but those who decide to ride out the recession in their current premises may find a resurgent market tipping back towards landlords when the time comes to move.
If your business is secure enough to survive the turmoil of a change in premises this may be the right time to consider a move. The risks may be considerable, but the advantages for a business making the right move at the right time may outweigh them.

Why Renting Office Space In London Could Enhance Your Business

30 Oct

For most entrepreneurs, a tight budget means that their choice of business premises is limited between a home office and a rented office space. In the current economic climate, many business professionals consider the initial low cost and lack of commute when working from home to be the preferable option. However, with rented offices becoming more and more popular among start-up organisations, it seems that a rented office space can offer several key benefits over staying at home and far more scope for businesses to succeed and compete.

The Benefits Of Choosing To Rent Office Space

London is an unrivaled centre for commerce in the UK, and it has excellent transport links to other key destinations around Britain. If your aim is to find big clients and significant investment, there is no better destination. Unsurprisingly, having access to London’s many amenities comes at a cost, and the rental prices often reflect this. Fortunately however, the financial savings that can be made when sharing important facilities and equipment in a communal office space mean that the real cost of renting in London is far less than many people think.

No matter what area of business you work in, presenting a professional image at all times is crucial. If you need to meet up with clients or customers, maintaining the appearance of an authority business when working in the spare room of a home is a difficult task. With meeting rooms, reception services, and function suites included, renting space in an office creates the impression of a more established company.

Working within a thriving office space with other personnel is a great way to stay motivated and boost productivity. The work based environment of an office provides fewer distractions from visitors or household chores, and being surrounded by other staff removes the isolation of working from home.

How To Find The Best Serviced Office Space

There are a wide range of serviced office spaces available to choose from in London, and finding the best option for your business can be a difficult task. The following are some important considerations to take into account:

– Facilities, Resources and Staff

Different contracts will include different facilities within the terms of rent. Meeting rooms, broadband, phone calls, secretarial services, IT resources, and trained reception staff are all expensive to invest in, but they can be included free with some rental agreements. Consider exactly what your business needs before you start searching for prospective offices, and ensure that you are not paying extra for facilities that you do not need.

– The Building

The location of your office building will have perhaps the biggest impact of all on its cost. Finding the right balance between the benefits of a city central setting and an affordable price is a key decision to make. No matter where your building is situated, it is vital to make a specific agreement about which rooms within it you and your staff have access to. Occasionally access to toilets, kitchens, storage, and function rooms must be negotiated in addition.

– The Facility Management Company
During your lease there are likely to be many occasions when you need to have contact with the facility management team responsible for maintaining your office, both when setting up your work place and if problems occur. As a result, finding a team that is thorough and easy to work with is beneficial.

– Cost and Payment

With such great travel connections, investment opportunities, and global interest, choosing to rent office space in London always comes at a price. Fortunately, the rental market offers many different types of payment methods and solutions to suit your circumstances. You can choose between a long-term or short-term contract, and you can also decide if you want to pay hourly, quarterly, or yearly for your use.

Renting office space in London enables entrepreneurs and business start-ups to get the flexibility they need. Having the ability to expand and adapt your contract to reflect your situation can give you the peace of mind that home and traditional leased offices cannot. With such a wide range of offices to choose from in London, you are certain to find one with facilities, location, a payment plan, and a price that is right for your organization.

How to Find the Perfect Office Space in London

29 Sep

Location is key in business. Hence, for your London company or branch to flourish and to make a good impression, it is important that you find a notable office space in the city that suits your needs wonderfully. In this bustling capital of the United Kingdom, this can seem like a challenge. For this reason, you must make it a point to know the factors you ought to consider in discovering the perfect office space in London.

Factors to Consider When Searching for a Great Office Space

Before throwing yourself head-on into the great search for the perfect office space in London, it would help you tremendously to find out first which factors you must take into account as you carry out this task.

Here are the most important considerations:

Budget– One of the most crucial factors is the budget. Try asking around and researching online about the average rates of office spaces in the city. Set a budget range for the office space that you intend to rent or buy.

Purpose– Know what the space will be for. Determine the tasks involved in the daily operations of this particular office.

Size– Once you have finalized the purposes the office will serve, you can decide on the furniture and equipment to be placed here. This way, you will also be able to know the appropriate size for your office. Also keep in mind the number of employees who will be working within this space, and the average total of visitors or clients you expect to come.

Image– This is also a vital factor in finding the ideal office space. If your brand image is one of luxury, you must choose a location in a posh neighborhood or a high class business community. The same goes for the opposite. Your goal must be to match the nature of your business along with the image of your company to the kind of locality where you will have your office. This is also a great way for you to reach out better to your target market.

Things to Research About While Looking for a London Office Space

Now that you know the main factors to consider, you should also do a little research on the various aspects of leasing and purchasing an office space in London. Find out the value of the properties you are eying. Also check out the necessary documents you should take care of upon establishing an office space here.

While you are on the lookout for the nicest and most fitting office space London has to offer your company, you should explore your options on property consultants and commercial real estate agencies that can assist you in this quest. After all, these specialists have more connections and are far more knowledgeable in this matter. Thus, they will be able to provide significant help.

Benefits to Enjoy From Finding the Perfect Office Space

Once you find the perfect office space in London, you will certainly enjoy the following benefits:

Permanent Home– Your employees will feel more at ease and can concentrate on their work once you have a steady “home” for them and for your business. It will also be easier to develop a loyal clientele this way. What’s more, potential customers will trust you even more if you have a permanent office address.

Convenient Storage– Once you have your office space settled, it will be easier to store your supplies and equipment here. You need not move them from one place to another every now and then.

Growth and Expansion– This may be the base camp for your business or perhaps a new branch. Either way, having a great office space in a good location is helpful in growing a company.

5 Tips for Choosing the Perfect Start-Up Office Space in London

30 Aug

In this languishing economy, at a time when start-ups struggle more than ever to find their footing and go on to success, it has never been more important to sweat the details before hanging your shingle. Every aspect of your new business must be perfect in order to give your venture a fighting chance of survival, and there are few more important considerations than the location of your office.

London, naturally, is a coveted location for any new business. As one of the world’s most vibrant, important and well-connected business centres it’s the perfect place to establish a base. However, setting up shop in London can also be a risky move without proper planning. The often extreme costs and inconveniences of establishing an office in the city could potentially outweigh the benefits, so it’s vital to consider the realities before taking the plunge.

To help you on your way to success we’ve come up with five simple tips to help you find the perfect office space London has to offer…

1. W11 or SE21?

As you’d expect, London office space was not created equal. While a Notting Hill location wouldn’t leave you much change from £1.5 million if you were to buy outright, a property in a less desirable neighbourhood could save you hundreds of thousands. This is your first (and perhaps most important) consideration, and the frustrating catch-22 that all businesses face. The best and most convenient office space will always be the most expensive, and you’ll need to carefully weigh up the costs and benefits of any location you consider.

The key consideration here is this: does your start-up rely on passing traffic? Do you need a convenient location for customers and clients to visit? If not, it makes little sense to pay a premium for expensive real estate when you might get much, much more for your money in a location on the city fringes.

2. Transport Links

It isn’t just your customers who need to find your office. You also have to consider the convenience of access for yourself, your employees and your suppliers. London is well connected by public transport, road links and airports but the city centre itself can be a challenge to traverse, and especially so during the seemingly endless rush hour.

As such, your office should be conveniently located to take advantage of public transport links such as the Underground. A location within easy walking distance of a station will cost extra, but in the long run it will almost always pay dividends.

In fact, it may even make sense to locate on the fringes of the city to avoid the problems of London congestion altogether. Office space in the London periphery benefits from its proximity to the city, but avoids many of the problems associated with a large metropolis.

3. Size Matters

With rental prices per square foot higher than most other cities on earth it can be tempting to cut corners when leasing office space in London. However, when inadequate space leads to problems with running your new business effectively it can quickly become clear that skimping on space is a false economy.

Before leasing a property you need to consider your needs carefully, both for the present and the future. Think about your storage needs; the comfort of your employees; parking facilities; local shops and services, and your possible expansion in the years to come. Your new office should satisfy all of your needs and allow for the growth you’ll need to achieve in order to thrive.

4. Be Prepared

Something that often trips up start-ups on day one is the difficulty they find in securing any office space at all, no matter how poor the location or overpriced the premises. Landlords know that start-ups are prone to failure and early cash flow problems, and they almost always prefer to lease their premises to established companies with a proven track record.

To avoid disappointment you should give yourself plenty of time to prepare for the financial hardships of the early days. Landlords may demand a much larger deposit, a longer lease and more onerous penalties for breaking it than they would an established company, and the only way to tackle that problem is to make sure the cash is available to lay down straight away.

5. Shop Around

Finally (and this should go without saying), when searching for office space in London it’s vital to consider as many properties as possible. Never accept the first option, and don’t be afraid to think outside the box during your search. Work with estate agents, of course, but also speak to business partners and friends. Walk the streets and ask questions. With a little luck you may find a hidden gem in just the right location at just the right price.

Like most things in life, it just takes a little hard work.