Selecting the appropriate commercial space to house your company is one of the most critical yet often overlooked decisions an entrepreneur or small business owner will make.
Your workspace’s physical location and attributes enormously influence multiple facets of your operations and bottom line. Taking the time to carefully evaluate all elements of a potential business property with both the present and future in mind is essential for setting your organisation up for prosperity.
Location, location, location
Arguably, the single most vital factor is geography. For businesses selecting space in commercial or industrial parks, the location carries just as much weight as for standalone buildings. Proximity to major transport routes ensures convenient access for employees and clients. Visibility from arterial roads also plays a role in branding to local markets. Consider proximity to target clientele, partners, and labour pools, which vary by industry.
Ensure your space’s square footage accommodates all current inventory, employees, processes, and equipment—with ample room to grow. Insufficient space strains daily operations and limits the ability to meet rising demand.
You want the flexibility to adjust the layout as processes evolve without major built-in hindrances. Model out potential scaling needs several years down the road, factoring in plausible growth rates. Leave a buffer because it’s far easier to use extra space than be forced into continual moves every couple of years to bigger locations.
Ambience and environment
A workspace’s aesthetics, layout, and lighting influence productivity, creativity, and employee satisfaction. Consider foot traffic flow, ergonomics, natural light, designated collaborative or focused work areas, and sufficient storage. Think about how divisions should interact via spatial relationships and adjacencies. Prioritise people’s needs like kitchenettes, quiet rooms, or mothers’ areas.
Colour palettes, furnishings, flooring, artwork, and decor choices all compose an environment reflecting your culture and brand. For customer-facing businesses like restaurants, the ambience is directly tied to sales. Positive vibes keep morale and retention high for offices while also impressing visiting clients. Just don’t let style outweigh functionality.
Compliance and utilities
Ensure the build-out or renovations meet all commercial zoning codes, occupancy regulations, accessibility standards, fire safety rules, and health codes for your locale and industry. You’ll also want to check there is sufficient electric, water, sewage, HVAC, and internet service capacity. Look for energy efficiency features like double-glazed windows or low-watt LED track lighting to conserve power.
Poor compliance or infrastructure issues like overloaded circuits or archaic phone lines can lead to headaches or legal troubles down the road. Build these assessments into your property evaluations.
Room to grow
Ideally, your space has physical provisions to readily expand onsite or within the same structure. But even the ability to upsize in the near vicinity is advantageous should your venture take off faster than predicted. Outgrowing space prematurely disrupts operations each time you move. It also sinks money into costly build-outs and commercial moves that provide no return on investment. With this in mind, pre-planned upsizing can prove to be very financially beneficial.
Selecting an ideal commercial space aligned with your business model and strategic growth roadmap is challenging but well worth the effort. Compromising on key location, sizing, environment, or compliance factors risks hampering your company’s progression and profitability from the outset.
You’ll also want to conduct thorough needs analyses encompassing future visions, tap outside expertise, and evaluate all dimensions of potential properties. The ideal workspace facilitates efficiency, growth, and success—so choose yours wisely.
Modern office space in Chineham Park
Chineham Park is an 815,000 sq ft mixed-use business park located in Basingstoke with a wide range of offerings comprising units from 160 sq ft to 93,000 sq ft. To learn more, get in touch with us today.