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Decide on location. If you get this wrong the only way to correct your mistake is to move again! If your business is in manufacturing, ease of access to sources of raw materials and to your markets may be essential. If you are running a shop, it should be in a location where the public will notice it and find it easy to visit. For cost reasons you may have to accept some compromise.
Consider your business strategy. The number of people you will be employing, the processes used in the business and the plant/machinery required. The type and location of property needed for a manufacturing business with heavy plant will be different from that of a software or distribution business. What are your ongoing plans? Is there space for expansion or will you rely on a move to larger premises at a later date? Think about the quality of the workspace environment and how this may impact on the staff and their productivity. All of these need to be thought through before you make a final choice about your premises.
Prepare a specification of the premises you want. Sketch out a plan on graph paper, detailing your requirements. From this you can work out the floor area you need. Don't forget car parking and loading and unloading facilities. And remember your utilities needs - what power supplies will your processes require, what telecommunications facilities, for example?
Decide whether to buy or lease the premises . Work out how much you can afford to pay in outgoings on the premises, whether you buy or lease.
As well as rent or mortgage repayments you need to allow for general rates, water rates, service charges and insurance of the building.
Armed with this information, you will be able to give a chartered surveyor a succinct summary of what you are looking for.
Your chartered surveyor will provide independent advice on the size, type, form of tenure and location of premises that best suit your needs.
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