Mistakes to Avoid when Renting Office Space in London

Here we present some of the most common mistakes made by tenants when renting office space in London; check against them to ensure that you are not about to repeat someone else’s errors!

1) Ideally, the first thing you should do is to find a reputable commercial property agent. These are specialists who have insider knowledge of and expertise in what is now a very large and competitive market-place. They are capable of proposing detailed budgets and relocation plans that not only take into account your budget, but also the needs of your business and the needs of your staff. A good office agent will be able to source the best office space available for your needs and negotiate on your behalf to get the right price for you. In addition they will be able to provide a list of reputable suppliers and ancillary services to ensure the move is as effective as possible.

Whether you decide to use the services of a commercial property agent or not, there are further pitfalls to consider.

2) Leave yourself enough time to plan the relocation. Procrastination can result in unnecessary expense: the longer you wait to implement your plan to move to new commercial property in London, the fewer options you are likely to have in terms of potential premises and this can then result in a loss of negotiating power. With careful planning, it is advisable to have 3 or 4 options short listed, well ahead of your lease expiry deadline.

3) As well as the immediate considerations of your company, it is also worth considering the long-term impacts, both positive and negative, that relocation will have. Ineffective or ill-thought relocations could have adverse effects on a company’s future growth and development.

4) Although the financial implications of any business are integral to most decisions, moving to new commercial property will also have an impact on the staff involved. To ensure continued productivity, the needs and requirements of your workforce must be taken into account, prioritised and allowed to influence the choice of property that is chosen.

5) Most tenants hope or expect their businesses to expand within the next five to seven years. Ensuring that your lease terms and space requirements are flexible will give you the necessary room to expand, If it comes to a decision between two ideal office spaces in London, the services of a commercial property agent will allow you to ascertain which property is likely to be more cost-effective in terms of rental.

Many businesses have fallen foul of these apparently simple considerations in the past, which is why, many businesses are now delegating the pressures of commercial relocation to professional commercial property agents.

Shivani Gurtu-Louth - Operations Manager of Devono Property Limited. Devono are the only commercial property agents in London to exclusively represent tenants looking for office space and commercial property in London to rent. Our aim is to secure the best commercial property at the best price.

For interviews, quotes, images or comments contact:
Shivani Gurtu-Louth
Devono Operations Manager
Tel(DDI): +44 (0)20 7096 9911
E-mail: sg@devono.com