As with any major change, searching for a new commercial space may become an overwhelming and stressful exercise. To help with the process we have compiled a simple list of 4 points, which often get overlooked, that you may need to consider when relocating premises.
1. Fitout and make good requirementsWhen there are high office vacancy rates in the Perth CBD, owners may offer leasing incentives such as a rent free period or paying for the initial fit out. However, leases generally include a contractual obligation to restore your tenancy to the same condition as when you initially leased the space. It is important to be aware of the costs involved in this process as it may affect your overall budget.
2. Zoning
It is crucial to know whether the space you’re looking at will require a change of use. For example, some medical practitioners find out the premises they are interested in are zoned for office use only.
A change of use application will usually take approximately three months to process with Council (the time varies according to which Council you are dealing with), which will affect your timeline. Change of use applications may also be totally rejected by Council due to planning considerations.
3. Will the space satisfy all requirements?
There is more to consider than just the total size of the space. Consulting an interior designer to create a concept plan can be very beneficial to see if all your requirements are feasible and functional. Theoretically, you may believe the space will be viable based on floor area; however, in reality there are other factors to consider such as structural columns, stairways and accessibility requirements.
The TKO Office Fitouts’ space and cost calculator is a useful tool to give you an indicative floor area and cost for the fitout of your new offices. The calculator can be found here.
4. Office Fitout BriefTo assist with the process, it is wise to have a clear and concise understanding of your company and what it needs in order to function. It will be beneficial to note; what areas are currently being used and what aren’t, what areas are crucial and what areas can be reduced if required. It is also a good idea to browse through magazines or online sites such as Pinterest, to get an idea of what you like and as equally important, what you don’t like.
To find out more about property selection considerations you can read the TKO Property Selection Guide here, or contact the helpful team at TKO on (08) 9347 1800 if you wish to discuss your upcoming project.