Whether you’re starting your own business or expanding your operation, you may be wondering where the best location is for your commercial property. While certain types of property will often be placed in obvious locations like town centres, many business owners are now casting a wider net when it comes to location so that they can save money and maximise their potential. Here’s how you can find the perfect location for your business.
Look at both land and property sales
While you may be currently looking for a commercial property, the process can be slow, as most businesses need certain facilities in the right location, which is a challenge to find! That’s why you might also be looking for land as well.
As an example, buying land for sale in Townsville and building your own commercial property is often a better choice, as you have so much more flexibility. It’s worth getting NBS land surveys if you’re looking to buy a plot of land, making sure it’s fit for purpose, and working with commercial contractors for the best result.
Consider your connections
Being connected is incredibly important for businesses. You should look at:
- Local transport road links – are you close to a major motorways and able to get to local cities?
- Public transport – a decent train link can be a good boost to business
- Parking – if you’re relying on road links, make sure you have plenty of parking
- Internet – internet speeds can vary hugely across the country, so make sure you move to a location that’s well-connected if you’ll have remote workers
Being in the right location has a number of advantages, from giving you a bigger pool of talent as potential employees, to being able to network with the right businesses. It can even help boost your productivity, as less business travel time means you spend more time focusing on the things that are the most important.
Budget is a key factor
While you may think a city centre location is best for you, not everyone’s budget can stretch to this. Not only will you need to think about local rents or land prices, you should also calculate your business rates, which are based on the market value of your property, so a more expensive location will generally mean high rates too.
Try to pick somewhere that’s well-connected to where you want to be, but still fits within your budget. Nowadays, more people work remotely at least some of the time, so suburban or even rural locations aren’t completely out of the question, and you can often get more for your money if you go off the beaten path. Some smaller cities which are less expensive are experiencing a boom in new businesses, as they offer a thriving business community without the price tag.
The location, location, location mantra doesn’t just apply to residential properties. The right location for a commercial property can help determine the success of your business and provide a base for your operations, hopefully for many years. Make sure you take the above points into consideration when choosing a commercial property or buying land.