What to Consider When Buying a New Commercial Property

StrategyDriven Starting Your Business Article | Entrepreneurship | What to Consider When Buying a New Commercial PropertyLeasing a commercial property isn’t the best option for a lot of businesses. Therefore, if you have made the choice to buy your next business property, you are opening yourself up to more flexibility and more freedom to allow your business to grow.

That said, there are a lot of important areas to take into account when searching for the ideal commercial property.

The Maintenance Costs

Alongside your fixed monthly outgoings, you’re going to have to prepare for maintenance costs over time, and any unexpected issues that may arise. This means you should consider any commercial property that you view with the expected maintenance costs in mind.

For example, are there any structural features of the building which you see as having a high maintenance bill? Does the sheer size mean more maintenance should be expected?

Maintenance is always a must, no matter the building, so budgeting for it is essential. You should also seek out a dependable maintenance service such as

The Need for a Survey

Having any new potential business property professionally surveyed is a must. You shouldn’t elect for the cheapest and quickest option, either. Although it’s preferable to save money, you will lose money in the long run if you fail to have a property survey in the first instance, resulting in your property running into problems further down the line. Ensure that you have a thorough survey carried out, which is specifically tailored for commercial properties.

The Location

Your location needs will vary depending on what your business entails, so you’ll need to think carefully about yours. Location can be a crucial factor in the successful running of your business.

Consider the following:

  • Do you have clients regularly visiting your business premises? If so, the property will need to be in an easily accessible location, and close to your main clients.
  • Do you have a large team of staff who will work on site? If so, the property will need to be easily accessible for them, and not difficult to travel to.

Also think about the impression that you want to give of your business; you need the property and location to reflect this in a positive light if you are going to have external individuals and clients visiting the commercial property on a regular basis.

Transport Links

This is an imperative consideration if you have people traveling to the premises on a daily basis, whether they are staff or clients. If your new commercial property is near plenty of public transport links, such as train stations and bus stops, then this is a huge positive.

If you can’t find a property which is close to public transport links, or if your commercial premises is in a very remote location, then you need to ensure that there is at least a car park for staff and visitors.

A commercial property in a remote location, without a car park, and far away from any public transport links, will be very problematic and may be seen as unprofessional if you are failing to provide these needs.