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The complete 10-step guide to your office move

February 27, 2023
Your business premises need to work for you and your people better than ever, as you seek to entice workforces back into the office.

What you might find, however, is that your existing office space or building may not meet your needs anymore.

It might not have the quality of facilities and fittings that you want to offer your people, it could be too large now that you are embracing a hybrid working model, or it might not be green enough to meet your ESG requirements.

If you have a lease break or expiry in the pipeline over the next 12-18 months, you might want to rethink your commercial premises, to ensure it is supporting your business to thrive. If it isn’t, it’s time to have a rethink.

In some instances, you might be able to negotiate with your landlord, and secure what you want from your existing building that way.

However, if that is not possible, there are some fantastic opportunities on the market which could see you relocate to a more cost-effective building offering better facilities than those you have now.

Of course, the prospect of having to relocate is a potentially daunting one, but if planned effectively, and with the right advice, there is no reason it can’t be a straightforward, smooth process.

So, what should you expect when searching for new premises to buy or lease?

Here’s our 10-step guide, taking you through the process step by step.
Stage 1 – Detailed brief

This stage is vital to ensure the best outcome. Working with you, our agents would get an in-depth project brief to establish the criteria driving your property move.

It is an opportunity to brief your property agent on what your requirements – from geographical location and facilities, to required timescales and future business objectives. As part of this, you can detail any business-critical dates which might prevent or inhibit your move.

This helps us identify suitable options quickly and effectively, including any ‘off-market’ options and upcoming opportunities not yet available on the open market.

Stage 2 – Option analysis

Having undertaken a thorough search of the market using your criteria, we supply a list of relevant and available property options for you to review.

This would include information about location and basic amenities, and would contain high level cost assessments such as rent, rates and service charges, as well as the terms upon which the property is available.

Stage 3 – Space assessment

Every square foot or square metre costs your business, so it’s vital to make sure your property solution is cost effective.

Based on your brief, we would carry out an occupational space assessment, which might include anything from staff analysis, proximity to public transport and changes in business requirements, to working practices and corporate image.

If appropriate, we would work with you and other professional advisers such as workplace environment consultants and legal teams, to determine your optimum solution.

Stage 4 – Property inspection

Having selected properties from the shortlist, we would organise property inspection tours, providing advice and recommendations in relation to the condition of the properties, and their appropriateness in relation to your brief, and the terms available.

Stage 5 – Analysis of alternatives

Sometimes a financial analysis for shortlisted options is prepared, to compare options effectively.

This would cover all property outgoings and any pre-agreed assumptions about the fitting out of the property and occupation.

Depending on the size of the move, a Project Manager might also appointed to ensure you achieve your aims in terms of timelines, quality of fitout and finance.

Stage 6 – Negotiation

Once you’ve decided on a property, we progress negotiations on your behalf to secure the best possible and most flexible terms, fully protecting your position to mitigate future liabilities.

The negotiation is bespoke – whether it’s to renew a lease in your existing building, or a move to a new property.

Stage 7 – Approval

Having carried out an overview of the terms agreed, the risks and benefits of each property and a comparative cash flow analysis for each property, we would put forward our recommendations based on your criteria.

Stage 8 – Heads of Terms

Once you have agreed on the property and the terms, we would produce something called a Heads of Terms document which would form the basis of instruction for each party’s solicitors.

This lists the agreed terms and conditions of the proposed property transaction, and would provide solicitors with the information needed to complete the deal in a timely manner.

Stage 9 – Legals

Working closely with your advisers, we would provide commercial input into the legal negotiations, helping to make sure the final document reflects the terms negotiated on your behalf.

Stage 10 – Due Diligence and completion

Our due diligence experts will work with you and your professional consultants, to ensure a thorough and effective due diligence process. This helps to ensure completion in a timely and cost-effective way.

Relocating your business premises doesn’t have to be complex or disruptive. By retaining specialist advisers, you can achieve a great outcome – not just for you, but for your staff and business too.

 

Relocating your business premises doesn’t have to be complex or disruptive. By retaining specialist advisers, you can achieve a great outcome – not just for you, but for your staff and business too.

For help and support with your office requirements, get in touch for more information and our team of agents based across the UK will be happy to help.