Five Questions to Ask When Looking for Your Next Office
Looking for a new office can be an exciting, but daunting, task. Being able to put an address down on a business card is the dream of many entrepreneurs, but it’s difficult to make such a long-term decision that balances the future company needs of the company as well as your current situation. When looking for your next office building, here are some key questions to consider:
1. Is it in a good location for both employees and clients?
Location, location, location. It’s always important to have an office in an area that is easily accessible for you, your staff and your clients. This includes both being close to relevant transport links as well as being in an office that is easy to find, crucial if your office is client facing. Though it may be less costly to secure offices that are a distance from more central locations, being in heart of a desirable location, surrounded by reputable companies, can have tangible benefits.
2. Do you have sufficient space for your company to grow?
With the London average of approximately 100 sq. ft. per employee, it’s important to consider the amount of space you’ll need to accommodate both current and future employees. If you plan to expand your company in the near future, will there be enough room to house your growth?
It is also important to consider how many employees will be working out of the office on a regular basis. It may be that a ‘hot desking’ option suits your requirements, with employees regularly spending time out of the office. If you feel unsure about what the future of your company holds, tenant representatives like Shoreditch Office Space to negotiate a shorter lease term.
3. What will your regular office hours be and when will employees be working?
Not all offices will be accessible 24 hours a day. It is important to consider when your ‘regular’ office hours will be, as well as the hours your employees will be expected to work. If your staff will come be coming in early, staying late to meet deadlines or dropping by at the weekends, will your office building be open? If you expect your employees to work longer hours, or outside of regular office hours, the office and its resources need to be readily available to them.
4. Are there any hidden costs?
Aside from the actual costs of moving offices, there will be other considerations including set-up costs, taxes, the purchase of new furniture and any finishing touches you’d like to make. This is where tenant representation is massively important, and it is crucial to be aware of any potential future costs. We have encountered countless stories about tenants who have tried to secure an office without expert advice and found themselves landed with five-figure bills for renovation work a few months into their lease.
5. What length of term are you looking for?
Leases are legal agreements that can range from twelve months upwards. It is important to consider the future of your company and consider where you see your company in the future. Does your business model see your organisation expanding to include multiple sites? Is the location becoming increasingly desirable, and will rents continue to raise? Will your lease term allow you to do everything you want to do with your work space?
These questions all benefit from expert advice, provided by a team of dedicated professionals who know the market better than anyone else and have your best interests in mind…
At Shoreditch Office Space, we have years of experience helping tenants to find their perfect working environment. We will take the time to learn about your business, its aims and ambitions, before setting out to find your dream office. Get in touch to begin the journey today.