Advice for buying your companies first office

Before we start looking at some great tips on buying your first office, we will look at size, location and how to buy your commercial property. 

Property size

This may seem an obvious point, but many fail to consider the future of their company before deciding on the size of their office. You need to make a plan on where you predict your company will be in the next 5, 10 and so on years.

Why?

Considering the rate and amount your company will grow within the next few years will help you decide on an appropriate office size. For example, if you were a small company of only five people, but you were looking to expand within the near future, you need to rent a commercial property that has the space for extra employees.

With this said, you won’t want to buy an office space that’s out of your budget and tons larger than what you currently need. This is why you really need to write out a well thought out plan and figure out your budget.

Property locations

Again, this one may sound a given but you must take in consideration a lot more than simply the area your new office is going to be in. Points like; is there public transport near, are there any parking restrictions, is there a parking space big enough to fit your employees that drive, and how far away is the office from your employees living locations?

These are all important questions to note down and properly answer.  If you don’t, you could find that your employees aren’t willing – whether that be down to expenses or other reasons – to travel to the office’s location.

Buying a commercial property in London

So, let’s get into buying a commercial property in London. London’s prices are much higher due to obvious reasons – it’s our capital city. Which is why seeking professional help should be a great place for you to start, especially when you’re buying your first ever office.

Once you’ve hired someone to help find the property, you need to tell them exactly what your budget is and what your requirements are. Make the requirements clear and concise; consider things that you’d be willing to compromise on and things you absolutely require in your new office space.

What now?

Next, you should be sure to compare more than just a few commercial properties, as the last thing you need is to settle on an office and find a more suitable place later on. This is something your estate agent should advise you on. Due to the emotional side of buying a property, it’s best to consult your estate agent before making any decisions, and get advice from others that have already bought a commercial property in the past.

Good luck!

Last but not least, a little luck won’t hurt you! So, good luck from us and let us know how you get on in the comments below.