As commercial property agents, we understand just how important it is to choose the right space for your business – one that meets your business needs and supports its success.
Whether launching a startup, expanding or relocating, selecting the right space requires strategic planning.
This complete guide will help you navigate key considerations to find the perfect commercial property for your business.
Defining your business needs
Before starting your search, it is essential to identify your business’s specific requirements:
- Size and layout: Ensure the space accommodates your workforce and operational needs
- Property type: Offices, retail units, warehouses and industrial spaces serve different functions
- Accessibility: Consider ease of access for customers, employees and suppliers
- Future growth: Choose a space that allows for potential expansion
Having a clear understanding of these factors will help narrow down the best options for your business.
The importance of location
Choosing the right commercial property depends on your business type and operational needs. This includes:
- Retail and hospitality businesses
For shops, restaurants and hotels, footfall and visibility are key. A prime high-street location or shopping centre spot can drive customer engagement and sales. Proximity to public transport, parking and similar businesses can enhance convenience and boost revenue.
- Warehousing and logistics
For distribution centres, haulage companies and manufacturers, easy access to motorways and transport links is essential. Being close to suppliers and customers streamlines operations, reduces delivery times and lowers transport costs.
Industrial estates with good HGV access and 24/7 operating flexibility are also major advantages.
- Office-based and professional services
For corporate offices and service providers, accessibility for employees and clients is a priority. Locations with strong public transport links, parking and nearby amenities like cafes, gyms and banks can not only increase appeal for top talent but also enhance employee satisfaction and productivity.
- Manufacturing and industrial sites
Factories and production facilities need space, infrastructure and strategic positioning. Proximity to raw materials, suppliers and a skilled workforce is crucial. Industrial zones with proper zoning, reliable utilities and minimal restrictions help ensure smooth operations and allow for future expansion.
A well-chosen location strengthens efficiency, enhances brand reputation and fuels long-term growth.
Leasing vs. purchasing: weighing your options
A key decision when occupying a commercial property is whether to lease or buy.
- Buying provides long-term stability, potential property appreciation and full control over modifications
- Leasing offers flexibility, lower upfront costs and fewer maintenance responsibilities, making it ideal for businesses anticipating growth or change.
The right choice depends on your financial situation, growth projections and market conditions.
Budgeting and financial planning
Understanding your budget is crucial to securing the right business premise. In addition to the purchase or lease price, factor in costs such as:
- Property taxes and insurance
- Maintenance and renovation expenses
- Business rates and operational costs
- Surveyor, legal and environmental compliance fees
For those purchasing a property, financing options like business loans or commercial mortgages should be explored. Seeking financial advice ensures an informed investment strategy.
Stamp Duty Land Tax (SDLT): In England and Northern Ireland, the SDLT threshold for commercial or mixed-use properties is £150,000. The tax rate is 2% on property values between £150,001 and £250,000, and 5% on values exceeding £250,000.
Find trusted professionals to secure the right property
Finding the perfect commercial property requires expert guidance. Partnering with experienced professionals ensures you make the right investment with confidence.
- Experienced agents: A skilled commercial property agent, like Landwood, will help you identify the best opportunities. From understanding your needs to scouting prime locations, negotiating deals and managing due diligence, we ensure a smooth acquisition process
- Financial advisers: Accountants or tax professionals help you navigate tax implications, secure financing and ensure the investment aligns with your long-term financial goals
- Legal experts: A solicitor will handle all legal aspects, ensuring your investment is secure:
- Review planning permission and building regulation rules to confirm the property suits your business activities.
- Lease agreements or purchase contracts are reviewed thoroughly
- Health and safety regulations are met to avoid compliance issues.
Assessing property condition and suitability
Before finalising a property, conducting a thorough survey is necessary to evaluate:
- Structural integrity and potential repair needs
- Utility systems such as plumbing, electrical and HVAC (Heating, Ventilation and Air Conditioning)
- Security features and overall safety
For an accurate assessment of the property’s value, we recommend consulting a surveyor accredited by the Royal Institute of Chartered Surveyors (RICS), such as Landwood. We can advise whether we think a formal RICS valuation report or a marketing report is required once we understand your goals.
Our expertise
At Landwood, we specialise in commercial property sales and acquisitions. Our recent work with Time Finance demonstrates our proven track record of delivering results.
We facilitated their strategic relocation by securing a five-year lease for a 4,593 sq ft office in Birchwood.
The move aligned with Time Finance’s expansion strategy and followed strong financial results, including a 20% turnover increase to £33.2m and a 41% rise in pre-tax profit to £5.9m for the year ending May 2024.
The transition was seamless, ensuring optimal terms and positioning the company for future growth.
At Landwood, we offer expert advice and tailored solutions to help businesses navigate the commercial property market with confidence.
Get in touch with Amy Selfe and the team to discuss your business’s property requirements on:
Email: amy.selfe@landwoodgroup.com
Phone: 0161 967 0122
