So, your business is going well and you think that it might be time to swap the kitchen table for a swanky office or the swanky office you’ve been renting for something of your own, but you’ve never bought commercial property before and you don’t know where to start. It can be pretty daunting going through the process of finding and purchasing your first office space, but I’m here to make it simpler and help you avoid those rookie mistakes that can cost you a packet…
1. Know What You Actually Need
Don’t get dazzled by glass lifts and swanky receptions just yet. Think about what your business genuinely requires to function well. How many desks? Meeting rooms? Parking spaces? A place to stash the snacks? Overbuying will drain your cash flow, but underestimating your needs will have you bursting at the seams in a year.
2. Location, Location, Sanity
Yes, central London is cool, but do your staff really want to spend three hours a day stuck on the Northern line for the next however many years? Balance prestige with practicality. Consider commuting times, local amenities, and whether clients can find you without needing a GPS and divine intervention.
3. Budget Beyond the Sticker Price
The purchase price is just the beginning. Business rates, utilities, insurance, service charges – it all adds up. Be realistic about what you can afford in the long term. There’s nothing more soul-crushing than landing your dream office only to realise you can’t keep the lights on.
4. Think About Future Growth
Your business won’t stay the same size forever (fingers crossed). Will the space allow you to expand, or will you be back on Rightmove in two years? Future-proofing saves money and hassle down the line.
5. Inspect the Boring Stuff
It’s easy to swoon over exposed brick walls and industrial chic lighting, but don’t ignore the nitty-gritty. Is the wiring up to scratch? Any signs of damp? A dodgy boiler can wipe the smile off your face faster than you can say “staff shivering in coats indoors.”
6. Get Professional Help
Buying an office isn’t like buying a sofa. There’s paperwork, legal jargon, and potential pitfalls that could trip up even the sharpest business owner. This is where experienced conveyancing solicitors come in. They’ll guide you through the process, check for hidden surprises, and make sure you don’t end up in a legal quagmire. Honestly, they’re worth their weight in biscuits.
7. Don’t Rush It
That “perfect” property you saw yesterday? Chances are, another one will appear tomorrow. Buying office space is a big commitment, so take your time, weigh your options, and trust your gut. A hasty decision now could mean years of regret (and very expensive regrets at that).
Final Word
Buying your first office space is exciting because it’s a sign your business is levelling up. But excitement shouldn’t blind you to the details. Think practical, plan ahead, and get the right support, and you’ll soon have a workplace that works just as hard as you do.
