Over many years’ experience I have found that a good number of businesses have a pretty firm idea about where they need to locate.
In the industrial sector it often comes down to factors such as;
- where key staff live
- transport links
- where their trade suppliers are based
- the size of the electricity supply
- loading facilities
The increasingly congested road network can mean that operating from more than one site in different locations e.g. both sides of the Pennines, results in a lot of wasted and non-productive time with queues, delays due to accidents (which seem to occur virtually every day on the cross-Pennine stretches of the M62) and the impact of disruptive weather, especially during the winter.
In the office sector, things have changed dramatically in the past decade or so. The huge advances in information technology enable workers to operate from home in many cases, only having to report to the office one or twice a week. Video conferences can take the place of traditional ones thus saving the effort of gathering a group of people together to attend a meeting at the same place, and the ability to read e-mails from a smartphone and send a swift response has revolutionised communications.
Managed workspace centres have grown greatly in response to the need for more flexibility. Such workspaces are now offering an increasingly wide range of services, such as restaurant quality food and fitness/therapy centres. Some even offer monthly licences provided the proposed occupier provides adequate financial reassurance.
But despite these trends, there are still plenty of businesses around who need a team to be together and working from the same office premises day-to-day in order to build up a good rapport and more in-depth knowledge of the business.
As far as retail is concerned, here, as a rule, businesses are fairly specific as to where they want to locate. In fact, high street retailers are notoriously picky as to location. For the independent retailer, flexible lease term with an option to break built in, reasonable business rates, ease of finding the Premises and ability to park nearby, as well as a realistic rental price, are all key factors. The potential of the surrounding area, in terms of a ready market for their goods or services, is also important. The growth of online retailing has made it more vital than ever to secure the most productive business premises where goods are to be sold the traditional way.
As an Agent, Andrew Idle Associates receives many enquiries each week. We listen and seek to understand what the party is looking for and make suggestions as we believe appropriate. It is sometimes a case of thinking outside the box and perhaps putting forward a site or premises which the party wouldn’t have otherwise considered.