Right advice can help in leasing

LEASING a commercial property is similar in many ways to renting a house, but there are differences that can trip up a first-time lessee.

Colliers International Toowoomba Commercial sales and leasing team are here to provide you valuable information if it is your first-time property leasing.

While it may seem daunting taking out a commercial property lease, it is exciting and often a necessary step to take if you are wanting to grow your business.

Colliers International Commercial sales and leasing agent Justin Eastwell said leasing a commercial property doesn’t have to be a scary prospect.

“You simply have to know what you require for your business, be able to establish a budget and search for a property that suits your requirements,” he said.

Mr Eastwell recommends creating a short-list of requirements including budget, ideal floor size, car parking, amenities, street exposure and any other requirements pertinent to your business model prior to speaking to a commercial agent.

“There are often many properties available off market that agents will know about and that’s why it’s a good idea to develop a close working relationship with an agent to help not only find the ideal property but guide you through the entire process,” he said.

“For new businesses there are a lot of upfront costs that many don’t consider when starting out.

“As a tenant you will need to consider rents in advance, legal fees, bonds or bank guarantees, insurances as well as any fit-out costs needed to set up your property.”

Justin further commented the terms of the lease are all up for negotiation.

“Depending on market conditions, landlords can also offer incentives such as rent-free periods or contributions to fit out costs so don’t be afraid to ask for assistance,” he said.

Leasing a commercial property for the first time is a great way to start a new business or grow an existing one.

If you think a commercial lease could be the way forward for your business, don’t hesitate to contact the team at Colliers International Toowoomba who can provide you with help every step of the way.

For further information, contact Justin Eastwell on 0408 458 014.