If you’re looking for a commercial property for your business, or perhaps want to expand your office property into larger premises, then it’s worth taking a little time to think about these steps to help you choose the right Commercial property for your needs.
The first thing to think about is clearly budget. Set a realistic budget, and make sure that you stick to it. Bear in mind that you may have extras to pay for on top, particularly if you are thinking of renting rather than buying outright, so factor these into the costs, or at least make a contingency for them.
The location of your office property is of paramount importance. Dependent on the nature of your business, you may need easy access to transport links or easy access to customers or the public if you are retail led. Ease of car parking is easy to overlook, but can make a big difference to customer flow. The needs of the staff also should be taken into account – can they reach their new business location easily?
The third thing its worth thinking about for your commercial property is what the opportunities for expansion are like. It’s a good idea to think ahead, and a property which allows room for growth in years to come could be a great investment.
Wednesday, February 3, 2010
Commercial property
Investors looking to maximize returns on their money are seeking out investment opportunities in the commercial property market. Commercial property can cover anything ranging from multi residential units or apartment complexes, through to office property, in a high street, out of town or even rural location.
The benefits of investing in commercial property can be great. For example, there’s a lower risk of vacancy of your property – many office property units are multi tenanted, so the risk is spread over a number of businesses. Also when purchasing commercial property, original owners are often easier to deal with than when buying residential property, since there is no emotional attachment to the property. Also with commercial property, business tenants are often in the public domain, so you have relatively easy access to the property on order to check up on how well the building is being maintained etc.
When investing where to find a suitable commercial property, essentially you have three routes you can try. The first is to use your networking contacts to investigate the opportunities in the local area. This may be friends, relatives, or local commercial/trade associations or networking groups you belong to. The second is to contact a commercial property agent, who will have the benefit of in depth experience of searching out properties o the appropriate sector. The third is to use commercial property websites, which have the advantage that you are able to easily access properties in any international location.
The benefits of investing in commercial property can be great. For example, there’s a lower risk of vacancy of your property – many office property units are multi tenanted, so the risk is spread over a number of businesses. Also when purchasing commercial property, original owners are often easier to deal with than when buying residential property, since there is no emotional attachment to the property. Also with commercial property, business tenants are often in the public domain, so you have relatively easy access to the property on order to check up on how well the building is being maintained etc.
When investing where to find a suitable commercial property, essentially you have three routes you can try. The first is to use your networking contacts to investigate the opportunities in the local area. This may be friends, relatives, or local commercial/trade associations or networking groups you belong to. The second is to contact a commercial property agent, who will have the benefit of in depth experience of searching out properties o the appropriate sector. The third is to use commercial property websites, which have the advantage that you are able to easily access properties in any international location.
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