Here at Boxpod, we love helping businesses and commercial unit landlords find each other to make a match made in heaven. We want to help businesses to prosper by having the right commercial unit, in the best place for them, and have a range of different commercial units around the UK, from offices to retail units to warehouse spaces for businesses to peruse.
One of the commercial unit markets that is thriving at the moment is industrial workspaces. With the growth of online business, we are seeing a greater need for storage, and, therefore, industrial units are highly in demand. If you are a business looking for a commercial industrial unit, it is essential that you get the right one. A storage unit in the wrong location can have a massive impact on the bottom line for a logistics company, for example.
If you are looking for your ideal industrial unit for your business, you need to think about just what factors are the most important to you.
Unlike an office or retail space, industrial units and warehouse spaces are usually rented out as an empty shell, enabling you to maximise storage and decide on factors such as its layout for yourself, ensuring the best use of space for you and your business. This makes them comparatively easy commercial units to rent and insure, but that does not mean that all of them are suitable for you. Some considerations need to be made.
Usage and Access Restrictions
Before you consider even looking at anything else, it is vital that you check whether there are any stipulations regarding the usage of the commercial unit. Sometimes the activities that you are planning on carrying out within the unit may not be allowed. Some manufacturing, for example, is not always allowed in every industrial space.
Alongside this, you should also check any access restrictions that might be in place – especially important if you are a logistics business! You should check, for example, whether you will have 24/7 access to the property (if this is important to your business). Check aspects such as parking and loading space, and check that there is space for your vehicles to turn around and manoeuvre, especially if you are using large lorries.
Location
When you are considering the location of your industrial unit, there are several factors that you need to think about – especially if you are a logistics business, when location is paramount. Of course, you first should think about the potential access restrictions discussed above.
You should also consider where you are getting the items that you are taking into the space from – would it be better to be near a port, motorway, or airport, for example? Or perhaps near to farmers or other sources? And then, where are you sending them to? Abroad? Your local area? The whole of the UK? Think about where would be best for you to be placed for it to benefit you in terms of ease, speed, and finances.
Another locational consideration should be about the security in the area – are the contents of the industrial unit likely to be safe and secure in the unit – especially if you might be coming and going at night?
Finally, but importantly, when it comes to location, is the ease and security of you and/or your employees who would be frequenting the unit. Is there adequate parking, public transport, is it safe?
Space
It can be very disruptive to a business if they move location regularly. Not only is packing and unpacking annoying and time-consuming, but it can also be expensive to change stationary, lose business days, and unproductive to be repeatedly advise suppliers of a change in address (often resulting in invoices or deliveries going to the wrong address).
It therefore makes sense that you rent an industrial unit that can accommodate a degree of growth in your business (growth is the aim, right?). It might be useful to think about where you plan to be in terms of size over the next few years and look to rent a commercial unit accordingly.
Scrutinise the Lease
When you are discussing the lease with the landlord, make sure that you know exactly what you are agreeing to. This does, of course, stand for any contract that you are signing – commercial unit or not – but it can have massive consequences on your business if things are not as they seem.
If you are a fledgling business, it can be a good idea to rent a commercial unit with a break clause. If it comes to be that you are struggling to pay your rent, it can be essential that you are able to downsize in order to cut your outgoings.
Another important factor for any business is to check if or when your rent review might be with the landlord. With this knowledge, you can financially plan your business’s growth more effectively.
Utilities
In the world that we are currently living in, utility prices and companies are not always particularly reliable. It is essential when you are looking at moving into any residential or commercial unit, to check who the utility companies are, and whether you are able to change if you want to.
Final Thoughts
For many businesses, moving into a commercial unit can be a big step for moving into the next phase. Renting an industrial unit gives businesses the ability to store more, separate home and work life, keep things organised, and employ more people.
In order to gain the benefits, however, it is vital that you make these considerations before you decide on which industrial unit to rent.
If you are looking to rent an industrial unit – or other commercial unit, take a look at what we have to offer on our website! If you are a commercial unit landlord, then why not check our website to see how we can help you?