How to choose a commercial space for your business
The right space supports your customers, your team and your budget. These are the questions to ask first.
Start with how the business works
A shop depends on footfall and visibility. An office depends on the commute for your team. A warehouse depends on truck access and loading space. Write down what matters most before you start visiting properties.
Plan for the next few years as well as today, so that you are not forced to move as soon as you grow.
Work out the true monthly cost
Add maintenance, electricity, parking and applicable taxes to the quoted rent. Then budget separately for the security deposit and fit-out work.
Ask whether the price is based on carpet area or built-up area, so that you can compare different spaces fairly.
Confirm the permitted use
Check that your type of business is allowed at the address, both under local zoning and by the building itself. Ask for the occupancy certificate and any relevant fire safety clearance.
List the trade licences or other approvals your business needs, and confirm that the premises can qualify for them.
Negotiate the terms that matter
Before you sign, review the lock-in period, rent escalation, renewal rights and exit terms. Ask for a rent-free period if you need time for fit-out work.
Have a lawyer review the lease, particularly the clauses on repairs, subletting and what happens to your improvements when you leave.
This article is general information, not legal or financial advice. Rules and fees can change, so confirm the details with a qualified professional before you commit.