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Commercial Leasing Tips
By Marc Hurwitz, B. Com, (Accounting) - #66

When starting up a business or deciding to expand/move to a new location you need to evaluate what you do and don't need for your business. You need to see if new commercial premises is actually required or if you can work from home (for a start-up) or expand your current premises. Once you have decided on the need for new premises you need to consider many different factors, some of which are:

Rent: The first consideration to take into account is the maximum amount of rent you are prepared to pay, and can your cash flow afford to make a 1 month deposit if needed.

Location: Your location is often crucial to the success of your business as you will need it to be accessible to your customers, suppliers and employees. So you need to ensure that there is sufficient parking or public transport around for people to be able to access your location. Depending on the type of business visibility can be vital.

Expansion potential: The premises need to be able to encompass some expected growth for your business; as you do not want to be looking to move to a new location a year later.

Building Image/Area: You need to ensure that the building gives off the right image for your business. A customers first impression of the business is often the outer building and you want it to make the right impression.

You should also consider the length of lease, building security, and neighbouring tenants when choosing a commercial property to lease. We are available to give advice and negotiate terms of a lease.

St. Clair partners
Phone (02) 9221 4088

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