Building premises for your business can offer an attractive alternative to renting, especially if you’re keen to invest in an asset that is likely to appreciate. Real estate has been a popular investment option for centuries, and the demand for commercial and industrial premises has increased significantly in the last decade. If you’re looking for a home for your company, or you plan to invest in bricks and mortar while simultaneously growing your business, here are some essential considerations for your building project.
Choosing the right location
Location is an integral factor for most businesses, but it’s not always a top priority. Before you start searching for a plot to build your business premises, outline your key objectives and figure out which locations would be suitable. If your company relies on footfall, or you have a large team and your employees need to be close to transport links, for example, it’s beneficial to look for prime spots close to the heart of the action. If you have a remote workforce, or you have little or no face-to-face contact with clients, you could look at plots away from commercial hot spots to make your money stretch further. It is important to weigh up your needs against factors that will impact the value and saleability of the premises. You want to choose a good location for your business while protecting your investment.
Setting a budget
Budgeting is crucial when embarking upon a design and build project. There are multiple costs to factor in, including the cost of buying the land, excavation and construction costs, materials and supplies, labor and utilities. Contact companies that have expertise in commercial construction, get quotes and find out more about services you may need to plan your project and turn your ideas into a reality, including numerical modelling and architecture services. You will also need to consider legal fees and moving costs if you’re relocating from another base. Once you have a budget, you can adjust your search criteria to find land that is affordable.
Finding the perfect plot
Building commercial premises is not as simple as finding a unit to buy, but it can offer advantages, including saving money in the long run and providing opportunities to create a bespoke building. Take your time to research areas and find and view plots. Visit plots that check the boxes multiple times and seek expert advice to make sure that the land is viable for your project.
Customizing your plans
One of the most significant advantages of building new company premises is the option to customize your plans. You can implement design features to suit your brand and create spaces that will appeal to your employees and customers. For example, if you have a customer-facing business, thinking about how your premises presents itself is important. Will you want your entryway to have an open plan look? If so, take a look at How to use Architectural Glass in Design to help you plan the interior and impress all new and existing customers. Put your stamp on the design and use the premises to celebrate your brand identity.
Building business premises offers an alternative to renting and buying. If you like the idea of creating a new base for your company, it’s essential to plan meticulously. Choose a suitable location, take your time to find the right plot, set a budget and customize your design plans.