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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