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Location Location Location: The Business Version

In life, many of us dream of one day owning a home. In business, the majority of us want the same with commercial space. Having somewhere to base operations is the ultimate goal in both our personal and professional lives. Once you’ve done the deed, you can safely say that you have arrived. You can finally kiss goodbye to your family house, or that home office which has been your base of operations for so long.

But, while there’s endless advice out there about finding the right home, there’s little about finding commercial property. As such, it can seem like you’re going it alone when the time comes. And, with an expenditure this substantial, going it alone is far from ideal. You want to be in a position to make the best investment imaginable. When you get down to details, buying a commercial space isn’t all that different from any other property acquisition. So, you can turn to that advice to help you here. To make things more specific, we’re going to look at the main things to bear in mind when viewing potential spaces.

Location

Location, location, location. It’s essential in business, too. In fact, getting this right plays an even more significant role when it comes to a commercial space. With your home, location is key to ensuring you’re central to everything you need and can easily get around. In business, the right spot can spell the difference between success and failure. Most obviously, you want to base yourself in a bustling area. A town centre is always a good idea, or a trading estate which gets plenty of attention. You need to think, too, about the area itself. Is this a town which would need your product? Do the people here seem as though they would invest in what you do?

Condition

You also need to think about the condition of the properties you see. In an ideal world, you won’t have to do much work. Of course, all spaces need some attention to get them how you want them. If you have to buy some sealants to patch a few cracks then so be it. But, if you face major structural work which is going to set you back, this may not be the best option. A project might be an exciting prospect for private property, but your company can’t afford to waste money.

Size

When buying houses, you look at size and consider whether it’ll suit your changing needs in say, five or ten years. The longer you can spend in the space, the more return you’ll see when it’s time to sell. With commercial property, it’s also important to think about the future. If you have to sell up and expand in two years time, you stand to lose a fair amount of money in the process. Instead, look for spaces which can fit a growing company, or which can grow with you. It’s the only way to an area you know will last.

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