Ever since the emergence of the global credit crisis in 2008, there has been a rapid rise of commercial property to let as companies have found such a move a strategic alternative in order to reduce costs. This article acts as a guide in helping those seeking to let a commercial property whether it be for leisure or production purposes.
Ever since the emergence of the global credit crisis in 2008, there has been a rapid rise of commercial property to let as companies have found such a move a strategic alternative in order to reduce costs. This article acts as a guide in helping those seeking to let a commercial property whether it be for leisure or production purposes.
The first port of call lies with a Google search. This is because many commercial landlords looking to let provide their details online. By actively searching for commercial property to let via Google one can continue on and narrow their search to the area destined. The premise itself depends on where the prospective tenant is aspiring to locate too. Knowing where to locate in the first instance is fundamental to suit the needs of the business through access and demand for example.
While the internet lies an important source in obtaining information with regards to where to find commercial property to let, actively going out to monitor and observe premises with signboards enlisted “to let” is another way of finding out which commercial properties are available to let. This can be a good measure, because scanning an area for these premises allows one to develop criteria of how staff and customers would respond to such a move. In addition, it is also crucial to use the contact details on behalf of the estate agents listed on the signboard as their contact and expertise is a useful tool when deciding where to eventually let.
Another valuable idea is to get in contact with both the local council and estate agents. The council is particularly useful in providing general industrial/warehouse, office and retail information. Generally speaking, estate agents should be the principal contact with regard to commercial property to let and offer agents as part of their service. Typically, an agent is effective in tailoring the business needs to a suitable property but they also take a small fee if selected to play a role during the acquisition stage. Either way, devoting a high degree of attention to researching these agents is a must in order to ensure the best price. This is because they are all effectively trying to sell a commercial property lease, therefore making it imperative to contact more than one.
The support of a business consultant and solicitor per say are also central when trying to find a commercial property to let. Simply put, the solicitor is an influential asset in that their role can find the best price and cater for the complex bureaucracy entailed when leasing a commercial property. Again, the power of Google and the Internet can come to the fore for this. They may be also of use to keep up with current and potential local government intervention which may have an impact on the prospective tenant’s business in the long run through any fiscal measures for instance. The business consultant can help give an insight on the local competitors who operate nearby the proposed premise destined to be leased.
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