Very Small Business Units. Is There A Demand?
Discussion
Chaps
I have an oppotunity to take up a stake in a business with a premises that has just been vacated. Because of the current climate new tennents are not very forth coming!
One option we are looking at is to divide the building up into small offices, say 200 - 400 sq ft each. Enough for a fledgling business' or the one & two man bands who need to vacate the spare room but don't want 5,000 sq ft.
Basic question, is their a demand for such units. We are looking at minimum 6-month lets and will offer basic services. Phone & internet etc.
If you know of a demand, what kind of rates are they commanding? The building is New Forest/Fawly/Southampton.
Many thanks
Paul.B
I have an oppotunity to take up a stake in a business with a premises that has just been vacated. Because of the current climate new tennents are not very forth coming!
One option we are looking at is to divide the building up into small offices, say 200 - 400 sq ft each. Enough for a fledgling business' or the one & two man bands who need to vacate the spare room but don't want 5,000 sq ft.
Basic question, is their a demand for such units. We are looking at minimum 6-month lets and will offer basic services. Phone & internet etc.
If you know of a demand, what kind of rates are they commanding? The building is New Forest/Fawly/Southampton.
Many thanks
Paul.B
Yes.
I do Design & Build work fitting out offices for clients / end users. Usually turnkey, from M&E, ceilings, lighting, walls, floors, power / data, amenities (print / copy / server rooms / breakout spaces) and often supply furniture too.
One of my clients has just completed a new office development outside of Newcastle. 47,000 sq ft in 23 individual units.
All of the smaller units are now let, with just the larger ones remaining. So my client has asked me to sub-divide the larger units into 3 or 4 1,200 - 1,500 sq ft units.
TBH I think 200 - 400 sq ft you are going to end up competing with the local councils business start up premises / incubators. http://www.nfec.co.uk/index.html
HTH
Mike
I do Design & Build work fitting out offices for clients / end users. Usually turnkey, from M&E, ceilings, lighting, walls, floors, power / data, amenities (print / copy / server rooms / breakout spaces) and often supply furniture too.
One of my clients has just completed a new office development outside of Newcastle. 47,000 sq ft in 23 individual units.
All of the smaller units are now let, with just the larger ones remaining. So my client has asked me to sub-divide the larger units into 3 or 4 1,200 - 1,500 sq ft units.
TBH I think 200 - 400 sq ft you are going to end up competing with the local councils business start up premises / incubators. http://www.nfec.co.uk/index.html
HTH
Mike
Hi Paul,
Yes there is a demand for that kind of product. If you wanted to have a chat through it then please drop me an email at tsc@hollishockley.co.uk.
We have a number of clients that operate similar schemes in office buildings throughout Hampshire and we've had great success with them.
Yes there is a demand for that kind of product. If you wanted to have a chat through it then please drop me an email at tsc@hollishockley.co.uk.
We have a number of clients that operate similar schemes in office buildings throughout Hampshire and we've had great success with them.
PetrolTed said:
I've looked for space of this size on a couple of occasions and couldn't find a simple solution. I'm sure there are people running businesses from home that would like to make the step out of home without having to rent 2-3 times as much space as they require.
I run a small business from home and was looking for a small unit a few months ago but found nothing
so yes, definite demand!I'm sure there is a market for it given what Regus can charge their customers. For office space they charged over 50 psf for a 2 person office in the South where the going rate for normal space is about £14 psf. Obviously they include a lot of additional charges but I've always felt there is a strong market for this sort of product.
Obviously in these times having all your customers as newish small companies maybe risky but if the agreement is worded well and a decent deposit taken then that risk could be minimised.
Obviously in these times having all your customers as newish small companies maybe risky but if the agreement is worded well and a decent deposit taken then that risk could be minimised.
What planning consent will the units have? Can you get B1/B2 for ground floor units with access?
will your area support an assortment of different types of unit? This is what I would do in order to attract different types of tenants/businesses to make the place vibrant and interesting for startups (a bit like 'Workspace Group' do in London).
will your area support an assortment of different types of unit? This is what I would do in order to attract different types of tenants/businesses to make the place vibrant and interesting for startups (a bit like 'Workspace Group' do in London).
I am currently in such a place.
They pay for Electricity and Heating and we pay for comms - all furniture is provided although we had a load from our last office so got shot of most of it. We have 4 parking spaces and 1 months notice. They have structured cabling and a patch panel for each unit - these can be interconnecte3d between units so you can expand into other areas if required.
It appeals as I do not want to commit to a 3-5 year lease and I can add extra space on whenever I need to. They also operate the reception (good for deliveries) and provide mass mailing facilities, meeting rooms etc. There is also a spa in the building and so I can get my hair cut easily (not that that was a determining factor).
All the landlords around here want silly rents and stupid lease lengths with legal fees and everything else. I am surprised there is not a countrywide business operating such places.
This is in Redditch Worcestershire and I would say the place has about 80% occupancy. Put it this way the landlord drives a Ferrari.
They pay for Electricity and Heating and we pay for comms - all furniture is provided although we had a load from our last office so got shot of most of it. We have 4 parking spaces and 1 months notice. They have structured cabling and a patch panel for each unit - these can be interconnecte3d between units so you can expand into other areas if required.
It appeals as I do not want to commit to a 3-5 year lease and I can add extra space on whenever I need to. They also operate the reception (good for deliveries) and provide mass mailing facilities, meeting rooms etc. There is also a spa in the building and so I can get my hair cut easily (not that that was a determining factor).
All the landlords around here want silly rents and stupid lease lengths with legal fees and everything else. I am surprised there is not a countrywide business operating such places.
This is in Redditch Worcestershire and I would say the place has about 80% occupancy. Put it this way the landlord drives a Ferrari.
Dirty Boy said:
Healey73 said:
Hi, does anyone know of any similar schemes in and around Norwich?
I'd be interested in somewhere north east suffolk (lowestoft)Looking for a unit to fit no more than 3 cars in with height for one ramp.
http://www.nwes.org.uk/Content.aspx?nSectionId=823...
2 years ago, I was looking into taking on a role as a Lean Consultant, for a company based 200 miles away. I would have had to set up the North West office.
Before the interview I thought I'd do a little research. What I wanted was an office about 16 metre square (as in 4x4) , with access to a training room which I'd use maybe once every couple of weeks for a day's training, instead of going to a hotel. Not a problem if you want to be in the City Centre with no parking and big rents, but nothing closer to home.
I spoke to a mate who offered 'The stock room' in his garage. Would have been perfect, but for the noise of car repairs.
I also found some RENT by the day offices.
If someone had a small unit and split it into say 10 smaller office units, or craft units I'm sure there would be demand. and had 2 or 3 of them specifically for VERY short term rents ?
Before the interview I thought I'd do a little research. What I wanted was an office about 16 metre square (as in 4x4) , with access to a training room which I'd use maybe once every couple of weeks for a day's training, instead of going to a hotel. Not a problem if you want to be in the City Centre with no parking and big rents, but nothing closer to home.
I spoke to a mate who offered 'The stock room' in his garage. Would have been perfect, but for the noise of car repairs.
I also found some RENT by the day offices.
If someone had a small unit and split it into say 10 smaller office units, or craft units I'm sure there would be demand. and had 2 or 3 of them specifically for VERY short term rents ?
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