Renting/Leasing a commercial unit/workshop?

[CraigJ]

After 4 years of being a mobile business i have decided to rent/lease a unit to do a lot of my work from.

I have never done this before so just looking for advise on what are to do's and don'ts.

Is it similar to when buying a house, normal to make offers on the rent or is it pay what the asking price is?

what is normal for a deposit, 3 months 6 etc. do you get deposits back if you leave or is it in their pocket?

Not looking for a huge place just 1-2000 sq/ft will be big enough for at least 5 years maybe more.

are there anythings to avoid or to be aware of?

Any one here got a unit to let in Wakefield/Barnsley/Pontefract by any chance?

Thanks.

[jas xjr]

Be aware that many commercial properties can require the tenant to maintain the property

[Squiddly Diddly]

Yes you can make a rental offer.

A deposit is not uncommon, you will get it back at the end of the tenancy assuming they are no justifiable deductions to be made.

Ensure that the repair and refurbishment obligations are only to the condition of the property when you commenced the tenancy. Take as many pictures as you can to prove that.

If you are not familiar with commercial leases, utilise a solicitor who is. It should cost you £750 - £1500.

[Chrisgr31]

Speak to as many businesses as you can nearby to find out what rent they are paying and dont pay more than them. Remember the other costs,

Dont believe the Landlord when they say they are giving you a special deal unless you have checked what everyone else is paying.

Always work out what the costs are per sq ft, dont get caught out by the "its only £x per week" as that can work out very expensive, always convert it to £x per sq ft

[Insurancejon]

CraigJ said:

After 4 years of being a mobile business i have decided to rent/lease a unit to do a lot of my work from.

I have never done this before so just looking for advise on what are to do's and don'ts.

Is it similar to when buying a house, normal to make offers on the rent or is it pay what the asking price is?

what is normal for a deposit, 3 months 6 etc. do you get deposits back if you leave or is it in their pocket?

Not looking for a huge place just 1-2000 sq/ft will be big enough for at least 5 years maybe more.

are there anythings to avoid or to be aware of?

Any one here got a unit to let in Wakefield/Barnsley/Pontefract by any chance?

Thanks.

A lot of the stuff in wakey/ponte isnt listed online. there are a number of big properties that have been broken into units of the sizes you need.

next to the old kart track in ponte is a prime example.

what are you doing btw? we are wakey based if you fancy a coffee and some pointers.

sometimes its worth appointing a surveyor to find the property for you

[CraigJ]

Thanks for the advise guys.

I'm Also Wakefield Jon

I specialize In a particular Automatic gearbox but i Also Build Cummins and MAN Engines for bus companies and it is getting very busy.

The problem i have encountered is that most don't want motor trade as they just assume cars so cars parked every where.

I will be viewing one on Baileygate in Ponte in next few days but they have put me off slightly by suggesting they may want 6 months up front.

[Noel]

Speak to the main local commercial agents to find out what is available now and what is coming to market.

Understand values locally, as has been said rent is usually calculated per sq ft.

Check what the rates payable is, ask the agent. It's the next biggest cost.

Check your preferred option has the correct use class. B1 or possibly B2 is what you need.

Understand what your repairing obligation is. Taking lots of photos doesn't matter if the lease doesn't reference them. It's called a schedule of condition. Pay particular attention to roof condition. You can spend£££ on roof repairs and you aren't going to see much from your inspection.

Understand the finer points of alienation, security of tenure and rent reviews. Worth asking the agents to explain. The good ones will.

Lastly negotiate the terms but be aware of supply and demand. Don't expect a cheap deal if there is other interest. If the unit is part of an estate under one ownership they will look to maintain rents , and by extension asset value, over a quick deal.

[Insurancejon]

CraigJ said:

Thanks for the advise guys.

I'm Also Wakefield Jon

I specialize In a particular Automatic gearbox but i Also Build Cummins and MAN Engines for bus companies and it is getting very busy.

The problem i have encountered is that most don't want motor trade as they just assume cars so cars parked every where.

I will be viewing one on Baileygate in Ponte in next few days but they have put me off slightly by suggesting they may want 6 months up front.

May I suggest that you then say that you are an engineering company rather than motor trade;)

[singlecoil]

If a unit has been empty for a while (some near me have been for a couple of years) then you could negotiate a rent free period (rather than a rent reduction). 6 months, even a year sometimes, as long as you sign the lease for the asking rent.

[Insurancejon]

craig , also try Dave Precious at horbury bridge.

http://www.preciousholdings.co.uk/

they have a big estate that isn't on the website where units are coming up all the time. no issues with motor trade