Relocating your business: 4 steps to a smooth move

No-one likes moving. It’s not an enjoyable experience and getting it right is vital when relocating your business.

But CBRE Director, Transaction Management, Bob Ellis says there are four key steps will help make the process simple and efficient.

1. Define your needs

Ellis says it’s vital to consider what is important for your business and what will ensure your ongoing success.

“Central to this will likely be accessibility to clientele. Who are they? Where are they?” he says.

It’s also important work out whether clients drive or use public transport to get to your business and whether you will need to pay for extra parking.

Next, Ellis says you should determine how much space you need.

“Take into account how many offices you may require, or what size retail space, together with reception areas, administration space, storage and any additional requirements,” he says.

“Then convert this into an approximate size requirement that you can use to define the parameters of your market search.”

Finally, Ellis advises drawing up a budget to work out what your business can pay – including rent and outgoings including utilities like electricity, telecommunications and cleaning.

“In short, before inspecting any properties do your homework and decide what the main needs of your business are. When viewing premises you can then assess them against these criteria to ensure your selected space will be right for clients, your equipment and operation, and your wallet.”

2. Review the market

This is when you check local newspapers, the internet and with real estate agents to understand what is available or coming up for sale or lease.

“Ask agents for a summary of premises that meet your requirements and then conduct inspections for options that best meet your needs,” Ellis says.

He suggests having a shortlist of two or three properties and then getting proposals from landlords summarising key commercial terms and allowing you to compare options side by side.

3. Negotiate and document agreement

Ellis says that before finalising any lease agreement you should be sure the premises meet all of your critical requirements and that the space can be fitted out to parameters you specified earlier in the process.

“You may engage design professionals to complete a ‘Test Fit’ and provide indicative pricing for the layout and design you have in mind,” he says.

“Engaging a professional or advisor to negotiate the best terms on your behalf will help. Although doing this may incur a cost upfront, it can potentially result in significant savings over the term of your lease.”

Ellis also recommends getting independent legal advice when negotiating and documenting the terms for the agreements.

4. Fit-out and occupation

“Once legal documentation is complete you will be able to fit-out your space and make it ready for occupation,” Ellis says.

“We recommend that a conditions report is completed and agreed with the landlord before occupation.  Saving photos on file might be useful, just in case there are any issues with the fit-out in the future.”

Ellis says each lease is different and you need to make decisions that are right for your circumstances.

“Do your homework and engage professionals to give you tailored advice.”