Top Tips from McNeil Commercial – Bath Commercial Property Agents.
Are you thinking about opening a shop or looking for an office in Bath?
Here are some tips for businesses:
The Bath commercial property agents with letting boards in the window act for the landlord. Their job is to get the best deal possible for their landlord client. This is not you!
Bath has lots of Georgian buildings so it is likely that any property you find isn’t going to be perfect and there is likely to be a compromise when choosing a property.
Include all occupational costs in a business plan to include but not limited to:
Initial costs: Fit out, planning, building regulations, landlord consent(s), relocation costs, solicitors & surveyors fees, testing and statutory compliance costs.
Running costs: Rent, business rates, service charge, Insurance, utilities (including initial connection(s), parking, refuse, storage, repairing and maintenance obligations and any out of hours trading costs.
Exit costs: An exit should form part of your business plan and considered before you discuss any lease terms so that the exit costs can be mitigated in initial lease negotiations. Exit costs will vary between properties and can easily be tens of thousands of pounds on certain bath properties due to them being listed buildings in a world heritage site.
Know the market rent. On retail properties this is measured in terms of Zone A. Make a mistake here and you simply throwing away £000’s every year.
Negotiate the leasing deal as a whole package covering all of the above and more. It is important to fully understand all of the issues, and to ensure that your business plan can handle them before you negotiate terms with the landlords letting agent.
Get your own advisors at the very start of the process. Good advice from a Bath based RICS surveyor will likely pay for itself several times over.