1How to avoid choosing the wrong building.

How to avoid choosing the wrong building.
This is a very important decision that has far reaching
implications for your business. The general criteria for
selecting a building are consistent, but the importance
of these criteria will differ based on your own business
The demographics of your staff and their proximity
to the location – Retaining and attracting your staff
may involve the right strategic decision on where
to locate the premises, otherwise you run the risk of
losing key staff.
Social Responsibility – The building you choose
may carry a sustainability rating for example, which
may be part of your company’s social responsibility
charter. Avoid making the wrong long term
There may be a logistical or cultural need to be
geographically close to your clients or other
organisations in the same industry. otherwise you
may run the risk of losing key clients.
Image of Premises – The building and location you
choose need to reflect your companys image and
culture, get this wrong and your brand may suffer.
The lease budget available – Each building differs
in terms of quality and location and this will be
reflected in the lease costs. Set an appropriate
budget to avoid wasting money.
Transport links – Your staff and clients may need
to have close access to airports or public transport
infrastructure. Map this out to avoid disruption to
your business.
Size and Growth – The size of new premises
should be selected on the basis of not only
current needs but allows for future growth of the
business. accommodating your staff now, but
also accommodating them for future years, as the
business grows, otherwise you may run out of
space before your lease expires.
Quality of premises – Buildings all carry different
levels of service performance, in terms of security,
air conditioning etc and your business may need
to be supported by enhanced building services.
Look into the consequences of making a bad
Fit out budget available – If the fit out budget is
limited you may wish to only look at locations with
an existing fit out that can be adapted to meet
the demands of your business at minimal cost. Be
careful here as there are lots of hidden costs.
10. Building facilities – A building with a food court,
child care centre, swimming pool or gym facility
for example, may be important to you and your
business .
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Before embarking on the search for new premises some
or all of these factors will need careful consideration.
Businesses’ will often occupy the same building for 5-10
years and the choice of premises will need to reflect
the needs of the business over the lease full term. By
working through these key points you will be able to formulate a Location Brief. This will help steer your building
search with full consideration and understanding of the
importance of the various selection criteria listed above.
Make sure you provide the appropriate weighting to the
things that are important to your business. Making the
wrong choices may be damaging to your business.