When it comes to select your office space you need to lay a great emphasis on to various parameters with high exactitude. The selection of a new office premises should be done at economically grounded price and, what is even more crucial is that it must respond directly to the real needs of the company. Also, ask a Property Consultant to enable you to weigh up office space options more objectively such that you can attain a space that suits the business requirements.

Furthermore, If you plan to take office space on a rental basis for a long tenure, you should then make up your mind as to what would be more beneficial to you – lease or to purchase the space. There is a probability that the computation of rent for ten years can substantially exceed the market value of the premises. In this case, purchasing your own office space sounds like a great & profitable deal rather to take it on rent. Also, if you buy the premises they can further be resold at a much high & beneficial price. However, needless to mention that the renting office space is comparatively a much more hassle-free operation, which consumes less time. The lease agreement can be drawn up and signed in just a day whereas buying the office will take approximately two months atleast – this is the minimum time to process all the necessary documents. Following are various criterias to choose your office space :-

1. Image – Your choice as to selection of the office space will speak a lot about your business and rather what exactly your company wish to represent. For an instance, if you are willing to portray a corporate or professional image, then you would require a space that is ably embellished and bedecked with tasteful boardrooms and even more formal reception area.

2. Cost – This factor talks about how much office space can you easily afford. Along with the annual rent you are also liable to entertain the service charges and business rates. You should thus refer to a property consultant for an up-to-date market analysis on office rents and simultaneously the price trends for the property in your area, which would further equip you with an idea as to how much is your affordability.

3. Size – The office space relies on factors including the size & strength of your workforce team, required facilities and your anticipated projections for your future growth. In generic terms, it is accepted to allocate approximately 175-250 sqft of “usable office space” per employee.

4. Facilities and amenities – The Variety of services and facilities being provided are vital. So discover what onsite services comprise of when renting the office space, like security, parking, kitchen, toilets facilities etc. The local amenities on the other hand hold equal importance. Do you need to be located near public transport, cafe, shops etc.

5. Geography – A business settled in an appropriate location can enjoy wonderful advantages of corporate presentation that accompanies an affluent business address. You also also avail benefit of getting exposed to like-minded neighbouring businesses and their clientele.

6. Condition of the space – The condition will extensively rely on your budget and secondly what is currently available within your timescale. Do you wish to achieve grade ‘A’ new office space, second hand or even a serviced office space? You can thus seek an advice from a Property Consultant to look at varied options and then further suggest you as to what type of office space can you get which totally falls within your budget.

7. Flexibility – Does the space proffers enough flexibility for any contraction or expansion in the future course of time.

8. Accessibility – Gauge that the nearing accessibility criteria of your workforce and clients as the office should be easily accessible to both. An assessment and R&D is required to figure out that where are your clients based and where are your potential clients located as in to whom you want to target on.

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