Tag Archives: office space tips

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.

Advertisements

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.

Ideas to find Perfect OfficeSpace

30 Jul

Office space can affect staff in various ways; it can lead to high performance or poor performance, which in turn affects the entire business. Every staff member desires to work in a perfect office, with an environment that inspires them to work. While external factors can influence their work, internal factors such as office space also has great impacts on their productivity.

Office space ideas-factors to consider:

There are several factors that every entrepreneur should consider when searching for a perfect office space. these include:

Location

The location of your business should be easily accessible by public and private means. Different employees may wish to use different modes of transport, such as train, bus, bicycle or private cars. Ensure that it is accessible to either of these means. The place should also have sufficient supply of essential amenities such as water, financial institutions, electricity, food, medical facilities and office supplies. It is also important to base your operations in a city that has a good reputation and a safe neighbourhood.

The building structure

Before you decide to lease the space, check whether the structures of the building are in order. The windows, doors and other facilities should be in working order. A working lift and good lighting within the corridors are essential for safety purposes. The age of the building also matters; do not move into a building that is too old to bear your weight. If it is a storey building, ensure that it has met all safety requirements.

In addition, consider things such as the history of the building, reception, and out-of-hour access. Ask questions such as; has it ever been broken into, caught fire or collapsed? How are the people sitting at the reception desk – are they friendly or are they likely to send your clients away? Will you be able to access the building round the clock without any major incidences or security threats? Finally, it is good to move into a building that is already complete and has no construction plans in the near future as this can disrupt business.

Utilities present

Remember that you will be spending most of your time at the office. You need to make it a safe haven for you and your staff. Essential utilities are a must. Fr instance, there is need for a toilet inside the building. Sufficient packing space will be required by yourself, your employees and clients. Other utilities such as internet, janitorial services and showers for those who exercise at break time. There should also be good cell phone reception to facilitate communication.

The space

Your office has its own requirements, and the size of the rental premise matters a lot. The available space should be a perfect fit for your office requirements. It should be large enough to accommodate your staff and equipment. Hire a professional office design company to assist with the test fitting process, or manually measure the space and compare with the estimate of required space.

It should be free from external noise as well as internal echoes. Check the acoustics at different times of the day to ensure that your employees will be able to work without distractions all day long. Whether there is a crusade outside, a sales promotion campaign going on at the shopping centre, or a disco at the nearby bar, ensure that these noises do not disturb your workers.

Ensure that you have room for growth. The layout should match your needs in a cost-effective manner, and also leave room for expansion. If expansion of the office space is not possible, ensure that there s flexibility; that you have freedom to move when business grows or downsizes.

 

 

Tips to Manage Your Office Space for Maximizing Office Productivity

10 Feb

Even though businesses spend thousands of dollars to manage their office space, many businesses fail to use it efficiently. It is no more an option for businesses to escape from this situation. So every small – medium and Big firms are finding ways to perfectly use their office space.

Set up Virtual Tools – It is not a surprise that most businesses waste on leaving a space empty for meeting rooms most of the day only to occupy it a small portion. Virtual meetings and conference calls are indeed great ways to conduct the modern day meeting as they save your time and money. They are not only a less expensive replacement for physical meetings but also a superior one because networking and exchanging information through virtual tools is more easy and effective. By using virtual tools you can literally save 50% to 80% of expenses you normally spend on traditional meetings.

Implement Technology – Office space accommodation is the second highest costs in most office-based organizations, with salaries comes in first place. This is certainly an age of flexible working supported by new technologies. There are so many technologies available to offices to help streamline operations and take up less space. For example, if your office space is mess up with shelving, cupboards, filing cabinets, etc.. to store documents you could replace them by using an electronic storage device. Use of electronic devices is indeed the best option for most business processes and to reduce communication costs.

Open-Plan Procedure– Cubicles just take too much space and cost a lot of money to both purchase and set up. Especially for small businesses workplace should be a sociable place where knowledge and expertise can be easily shared. Since many years many companies have been adopting the open-plan workplaces.  Though there are some problems associated with an open office environment, they have many benefits in terms of creating an ease and enhancing workspace communication, flow of ideas, and information can be quickly spread.

Flexible Furniture – Businesses are now focusing on creating smaller work spaces. The type of office furniture used in a workspace plays an important role how you are consuming it. For example you can use rolling computer tables as they can be pushed to any corner of your office or a simple L shaped computer desk would do and save some space.

When you implement all above steps in a thoughtful and trained manner, the results should address your objectives of having a more efficient and productive office space.