Commercial property experts have revealed the six key factors – besides size and location – that contribute to an office’s rental value in a bid to help businesses avoid paying unnecessary rates.
1. Work on one of the top floors in a high storey building – you could be paying a considerable amount more than if you took an office on the lower floors.
2. If you’re trying to reign in your finances a little, you should perhaps consider whether these added high-quality breakout space extras are really necessary to the functionality of your business.
3. Office buildings with top notch IT infrastructure will be more expensive than a building with basic spec IT.
4. Simply the quality of the space will also have a big impact on rental value.
5. If you are in a position to be able to commit to a 12 or 24-month contract, this would typically place you in a much stronger position to negotiate lower rents than if you were looking for a shorter term, or a rolling contract.
6. New buildings with lower occupancy levels will typically have more scope for negotiation than a building that is at a higher occupancy.
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