The true cost of occupying commercial property is a lot more than the rent. Here are some of the items you’ll need to take into account to get a good picture of the true cost involved in setting up your new commercial property:
- Moving in/set-up costs (fixtures, fittings, decorations, furniture)
- Fees (legal, stamp duty, surveyors fees)
- Commercial property costs (rent, business rates, service charge, building insurance, surveyors fees)
- IT/telecoms installation (telephone, internet, cabling)
- Running costs (gas, water, electricity, telephone line rental, cleaning)
- Moving out costs (dilapidations, legal costs)
Whether the cost is fixed or variable will depend on the type of commercial property you take. Look at the small print and make sure you know what you’re entering into!
This commercial property mini-series covers other a range of commercial property tips and tricks:
- How to choose a commercial property space
- How to search for commercial property
- What to look for when viewing a commercial property
- Agreeing the commercial property deal
James Friedenthal is business development director at Workspace.
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