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A How-To on Industrial Leasing

4th August 2020

The industrial property market can be a complicated area to negotiate without the right knowledge or experience. As time served commercial property estate agents, we make it our mission to answer all the questions businesses who require industrial properties have to ensure leasing is as simple, straightforward and successful as possible. 

We understand just how important it is to find and lease the correct property for your company, and with the vast variety of property available, securing the industrial unit that is right for you can be tricky. In addition to providing a diverse portfolio of commercial property for rent Stoke on Trent, our commercial property estate agents guide you through the process of leasing an industrial unit. 

Here we reveal the ultimate how-to guide to leasing industrial property, complete with advice from our knowledgeable commercial property estate agents.

Know the market

Before you even get started with your search for commercial property for rent Stoke on Trent, understanding the industrial property market and the current dynamics is vital. 

Industrial units form a vital part of the wider commercial property market, providing bases for businesses with large infrastructures and workforces. Industrial premises are usually based outside of towns and cities to ensure a strategic advantage in terms of transport and market access. 

Getting to know the local market, including what can be expected from vacancy rates, values and demand will ensure you are in the best possible position to identify opportunities and secure an industrial unit at the right price point. Industrial properties within your local area may also make your business eligible for additional support, such as the government backed Enterprise Zone scheme, Local Enterprise Partnerships and Business Improvement Districts (BIDs).

Fine-tune your wants and needs

Understanding what you want and need from your commercial property for rent Stoke on Trent is of the utmost importance at an early stage. The location, potential for growth, unit size and configuration, specifications, facilities, parking and security will all influence just how suitable an industrial unit is for your business. 

Being clear on your budget and timeline, as well as considering planning, environmental, branding and image restraints, will also help you to shortlist properties that suit your unique requirements.

Start your search

Our commercial property estate agents will assist you from the very start of your search. Using our expertise and local market knowledge, you can successfully shortlist industrial units that meet your requirements. 

You can then move on to narrowing down your shortlist by requesting estimated leasing costs from each landlord. The landlord of each shortlisted property should provide you with a comprehensive breakdown of the cost of securing the unit. This should include business rates, BID fees, energy costs, service charges, insurance and repairs. 

The lease may be eligible for incentives, whilst your ability to claim capital allowances on capital assets may lower costs further.

Begin negotiations

With all anticipated costs now clear, it’s time to start negotiations for the industrial property that makes the best business sense to you. The lease length, break clauses, rent, rent reviews, subletting permissions and alterations can all be negotiated to ensure that the lease’s terms suit your business.

At this stage, you may want to explore the alternatives to industrial leasing. Leasing under a licence is one option that should be considered, particularly if you are looking at an older commercial property for rent Stoke on Trent. Licences offer more flexibility and are generally simpler and more affordable than traditional leases.

Close the deal

Whether you are opting for a licence or traditional lease, making an offer and agreeing on terms is your next step. Once agreed, you should conduct due diligence with the help of our team to ensure that the condition of the unit is thoroughly reviewed and any potential issues identified. 

Depending on the outcome of surveys and local searches, a summary of agreement can be devised and approved by yourself and the landlord. You can then finalise the deal, exchange contracts, pay the balance and look forward to your move-in date.

For further advice from our commercial property estate agents or to explore commercial property for rent in Stoke on Trent, please contact us today.