Moving Commercial Property to a More Cost Effective Location – Daily Business

Running a business is expensive, and a large part of this plays into property location. Sometimes it can be best to set out from an old site, moving from a costly location like London to an area like Wales can be more cost effective. As advantageous as this approach can be, moving is also a complicated pursuit thanks to its rarity.

To better your chances of success, it’s important to remember all the individual steps and criteria that contribute to the bigger picture. Looking at the most common roadblocks we’ve seen users experience, our goal here is to aid readers towards the most efficient and stress-free commercial move possible.

Building Flexibility

The first thing to understand about moving to a new property is that few will start as perfect fits for what you need. This means each location will need to be modified to better suit your business. The ease of modifications will depend on how accessible the property is, and where it sits relative to other buildings and offices. If the space needs a complete redesign, but you can’t get equipment in without going through other businesses first, it might be too expensive to consider.

Source: Pixabay You’ll also need to consider planning permission and building regulations. These need to be investigated well ahead of time, and can vary significantly on rules and costs depending on zoning and when the property was originally built.

Ensuring Funding Security

Moving a business is expensive, and rarely comes in under budget. To alleviate this issue, it’s best to assume costs will add up to at least 10% more than predicted. You might choose to speed up sales of old properties with new online solutions. If you’re wondering, “how can I sell my commercial property to avoid these issues?” then digital services can be an option. Providing free cash offers in minutes, they can deliver sales in as little as seven days. Once complete, you know how much you have to work with, and can budget accordingly.

Staff Travel

The cheapest properties that offer everything you need can be the most remote, and this might not serve you or your staff. Hours of commuting each day can create high staff turnover, which in turn can harm efficiency. It might not be the best idea to find a location based entirely on the staff you already have, but you should consider accessibility to public transport and popular centres as important, to aid their financial concerns.

Site Concerns and Advantages

Outside of staff travel, you’ll need to balance the environment directly around the business. Is it a safe area, or will you need to spend extra on security? Is it an attractive area, to help keep employees happy? Studies have shown that green and safe areas contribute to staff satisfaction, which in turn boost productivity. You’ll also need to remember fibre access if you’re planning on supporting remote workers, which is also great for employee wellbeing.

Source: Pixabay

Moving a commercial property is not an act which can be accomplished easily. It needs to be carefully planned, to lower costs and maximise the odds of your ongoing success. Take your time, explore the sites online and off, and you’ll be more likely to settle on a location that best fits your long-term needs.