Commercial property is often advertised in the property supplements of local papers. You can also try your local Business Link, estate
agents and specialist magazines. Local authorities also keep a register of industrial property.
You could also try searching on the Internet. A search for "commercial property and (your area)" should give some leads.
Before you choose a property, you should decide:
» if you are looking for a shop, an office, a factory, a warehouse or a combination of these
» how much space you need for each business activity
» what facilities you will require - for example electrics, plumbing, heating, parking
» if the building will be comfortable to work in
» what impressions the building will give customers, suppliers and potential staff
» if the property is within your budget
» if it is in the right location
Get some professional advice from a chartered surveyor about whether the property really suits your needs, and meets legal requirements
for fire, health and safety.
Choose the right location for your business:
A good location for your business is vital. You might need to be right in the middle of the city, or you could be better off in an
out-of-town retail park or industrial estate.
You should also consider other things that can affect the suitability of a premises for the business, customers, clients or employees such
as parking and delivery restrictions or congestion charges. Local authority charges and business rates for services including waste
collection can also add greatly to the ongoing costs of locating in a particular area, making the premises less desirable.
You should also check whether local planning restrictions will allow you to use the building for the purpose you intend.
To decide what location is best, think about who will be using the building. Decide if you need to:
» attract passing trade
» be close to key suppliers, customers or related businesses – for example, estate agents often locate in close proximity to others
» make regular trips to the bank or a postal depot
» have public transport links nearby
Whatever option you go for, there'll be advantages and disadvantages. An office in a rural setting might be relaxing, but could be awkward
for staff, or suppliers making deliveries. Being right in the middle of the city could be very convenient, but might also be expensive.
It's well worth investigating any grants, loans on preferential terms and incentive schemes set up to tempt small businesses into urban
areas, such as grants from inner city renewal projects, or cheaper premises for small businesses in designated areas. Some councils or local
authorities have set up Enterprise Zones to boost local economies.
While many businesses will use a mortgage to purchase premises, it may also be possible to attract outside investors to enable you to buy
your own business premises.
