Commercial office rent

[missspeedy23]

When someone advertises a property to rent, say 230 sq ft x �6.50 per sq ft = �1495, is this figure per annum or per month? Seems a lot per month but not a lot per year!

[Ethel]

What's included? Rates, water, electricity? Security/concierge?
Where is it?

That size is very small for commercial premises - what useage does it have?

[Bev2006]

well its normally quoted annually, but as Ethel said this is either a very small room, eg 15ft x 15ft. Where would you go to the lavatory? Or boil a kettle? If I were you Id check the management charge for the loo etc as well - of course - as the rates.

[buildersmate]

It will be quoted as per year, but as Ethel says, check what it includes and what it doesn't.
In many areas there is a surplus of supply over demand, so rates are lower than they have been.

[Twenty20]

The size youre quoting is for a small room, about the size of an average lounge. Rent per square foot is low but as mentioned previously it depends on what's included.

[missspeedy23]

Thanks.

It's for my hubby's business, they are only looking for one office but lounge sized probably may be a bit small, I think they'll probably need 500 to be on the safe side.

It did say it was plus service charge and VAT so they're just waiting for all the info from the agent, it all depends on what they decide to add on for a service charge!

[Twenty20]

Do be careful if its exclusive of service charges. Whereas rent will be stated in the lease, service charges are an open cheque book to the landlord/agent. Ask to see the service charges for previous years and try to get a cap put on any future increases if possible.

Oh, and dont sign up for a long term lease without a break clause. A lot can happen to small businesses in a few years and you may need to get out.

[Octavius]

You could secure the services of a landlord/tenant surveyor to try and get you the best deal, or read some advice from the professionals. The RICS will be able to help.

http://www.rics.org/Services/BusinessPropertyA dvice/Finding/TakingLease/spotlight.htm