How to Find the Perfect New Business Space
Whether a business is expanding, relocating or looking for better terms, finding new premises in London's fast-moving market takes time and expertise. Strettons sets out the steps it follows for occupiers:
• Refine the brief: location, size, budget, fitted or unfitted space, and a long lease for stability or a short, flexible one for fast growth.
• Search and shortlist: a tailored shortlist, including properties that are not yet on the open market, found through the firm's network and direct approaches to owners.
• Tours: accompanied visits to judge each option first-hand and spot problems early.
• Due diligence and test fit-out: checking anything that could affect the decision, and making sure the space works for the business before committing.
• Negotiation: using market knowledge of rents, demand and incentives to secure the best price and terms - including landlord works, furniture packages, and lease clauses that limit future costs such as rent increases and dilapidations.
• Through to completion: coordinating every party during the legal stage.
Recent examples include three successive City Fringe office moves for branding agency Design Studio, buying a Thames-side office building in Deptford for workspace operator Artistic Spaces, a Central London showroom for Duravit, and four last-mile logistics sites across Harlow, Loughton and East London for trade retailer ITS.
