Office Space Selection Criteria
When it comes to choosing office space, your goal will be to end up in an office space that meets your budget and criteria and in a location that satisfies your business needs. When you are thinking about your office space criteria, you will need to give careful thought to the following:
Cost
How much office space can you afford? In addition to the annual rent, you will also be committing to service charges and business rates. Ask your Property Consultant for an up to date market analysis on office rents and costs of properties within your area so you can get an idea of how much you are able to afford.
Size
How much office space you need will depend on the number of employees, what facilities you require and your expected projections for future growth. It is it is generally accepted that you should work on allocating approximately 175 to 250 sq ft of "usable office space" per employee.
Facilities & Amenities
The types of amenities and services provided are crucial factors. Determine what onsite “central” services are included when renting the office space, such as security, parking, toilets, kitchen facilities etc. Of equal importance are the local amenities. Do you need to be near public transport, cafes or shops?
Geography
A business in the right location can enjoy the excellent benefits of corporate presentation that accompanies a prestigious business address. It also benefits from the exposure of like-minded neighbouring businesses and their clientele.
Condition of the space
The condition of the office space will depend largely on your budget and what is currently available within your timescale. Do you need new (grade A) office space, second-hand, or even serviced office space? Ask a Property Consultant to look at various options and advise you what type of office space you can achieve for your budget.
Flexibility
Is there enough flexibility within the office space to allow for future contraction or growth? Think about the length of the office lease and where you business might be at that time – is the space flexible enough to expand or retract?
It is worth spending time developing this office space criteria brief with your Property Consultant to enable you to weigh up office space options more objectively, and secure an office space that suits the needs of your business.
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