Top questions to ask when viewing a commercial property

If you’ve decided to invest in a commercial property - whether you want to rent or buy the property outright - thinking about the questions you want to ask from the outset can save you time and money.

During the viewing is a great time to ask questions as you have the agent’s full attention. But what should you ask? Here are some questions to help you find a commercial property that aligns with your goals. 

How long has the property been vacant?

This should be one of the first questions you ask, regardless of whether you want to rent or buy. The answer will provide some real insight into the property, its potential and your scope to negotiate on price. 

If the property has been vacant for a while, think about why. Do other prospective buyers know something you don’t, or is the building in a bad location? If you work with a commercial property agent like Eddisons, we can share our insights and help you identify potential warning signs. 

Who are the other tenants in the building?

If you were buying a home, you’d want to find out as much as possible about the neighbours, and you should take the same approach with a commercial property. If you’re looking to rent and the building has multiple tenants, find out who they are and what they do. For example, are they likely to be noisy or perhaps they’re direct competitors? Alternatively, they may provide complementary services that could enhance your business.

The same applies if you’re thinking about buying the building. If there are any existing tenants, you need to know what they do, how long their lease lasts and whether that fits your objectives and goals. 

Who is adjacent to the property?

As well as your neighbours in the building, look at the businesses operating nearby. Are they likely to affect you in any way, for example, by creating excess noise or unpleasant smells? Do they operate in a similar sector and are they thriving? These can all have implications for your business or investment. 

How can you use the property?  

All commercial properties and land have a permitted use dictated by the lease or planning laws. You must make sure that use aligns with your plans for the property. You should also think about what permission you’ll need to change from one use class to another and whether that permission is likely to be granted. 

Is there much parking?

Parking is often overlooked when viewing commercial properties, but it’s essential if you rely on customers driving to your premises or have multiple employees. You need to know how many spaces are available and whether they’re private or shared with other businesses in the area. 

Does the property need repairs?

As a prospective occupier, you must know what repair work needs to be done so you can include it in your negotiations with the landlord. You may decide it’s less risky to rent a property in a better condition. As a buyer, renovating the property could be a part of your investment strategy, but you should still carry out a condition survey so there aren’t any nasty surprises.

What amenities does the building have?

When viewing a commercial property, it’s not always obvious what amenities are available or what you’re liable for. For example, access to shared meeting rooms or an onsite fitness centre might be a bonus, but how are you charged and how much will it cost? Also consider the amenities available to your employees and customers, such as nearby restaurants and shops.    

If you’re looking for a lease deal, you need to know whether essentials such as repairs and maintenance, cleaning, electricity, heating and broadband are included in the price. 

Is the property eligible for relief allowances?

Capital allowances are available in several forms and can reduce your tax liabilities substantially. It’s worth enquiring about relief allowances during the viewing and taking specialist advice, if necessary, as they can often be missed. 

Is the property safe and secure?

Commercial premises can be prone to theft, break-ins and vandalism, particularly if the security is weak. You should ask what security measures are in place, who’s responsible for maintaining them and what the crime rate is in the local area. 

Expert guidance on commercial property deals

At Eddisons, our commercial property agents help individuals, business owners and investment funds buy and lease commercial property. We take the time to understand your specific objectives and help you identify properties that meet them. Please browse our commercial properties or get in touch if you’d like to know more.