COMMERCIAL INTELLIGENCE
1 . Choosing the wrong location
“ Location , location , location ” isn ’ t just a residential property mantra . It ’ s key for a successful commercial lease , too .
Every business needs something from its location . For some , it ’ s easy highway access . Others need public transport . Some rely on passing foot traffic while others prefer an exclusive customer base . Whatever your needs are , your location has to support them . Even the most favourable lease can ’ t make up for a location that simply doesn ’ t have what your business needs to thrive . landlords measure area from inside wall to inside wall , while others include the walls ’ depth in their measurements . Some measurements also include common spaces , while others list these separately .
3 . Not considering all the costs
Rent and fit-outs may be the main costs commercial tenants consider , but they are far from the only possible property-related expenses .
Check whether your business will be liable for things like rates and utilities or repairs and
2 . Misunderstanding the physical space
With the increasing popularity of flexitime , remote- and hybridworkplace setups , it ’ s not always easy to know how much space your business requires . To make things even trickier , the breakdown of commercial rental spaces isn ’ t always standard , either . Some
92 OCT 2022 SA Real Estate Investor Magazine