Have you ever thought that it would b e a good idea to “off load” some of that surplus business space that you have? Lets face it the expense of the running costs, heating lighting power, water rates, rent, business rates all adds up…………….then there is the problem of how do I do this? Well the internet is a great way of marketing anything and everything these days. The problem is of course is how some one is going to find the space you are marketing?
This is an age old question and is generally answered by having an agent on board. They will come and measure the building, produce particulars of the space, be that office, retail, industrial or workshop space. Costs associated with the letting of this space? Well, usually an agent will charge 10% of the 1st years rent, probably subject to a minimum fee of £500 plus VAT, then there are the disbursements- Boards / details / postage / plans / photographs / web designs, adverts in local papers etc. These can add up to between £500 – £1,000 before you have started!!
What are the problems associated with this approach? well lets look at this shall we?
- Boards – great in identifying the building that has got surplus space available within it. Also great in identifying the building buy those looking for space (who want space).
- Adverts in Local Papers – We in the property industry know, its a fact, that 90% of those who want space, will come from around a 5 mile radius of the building with space. The problem is, that unless the person who is looking for space, can see the space available or being advertised, on the week they are looking in to the newspaper, it is a waste of time.
- Details – Can be costly and a waste of time as they tend to be sent to other agents who file them away!! You need a database of potential occupiers to whom you can send these to,
Property now needs a website to sell or let small rooms or a work shop or part of a larger building to enable the market to see where and what the space is and how much it costs to occupy. I still find it interesting to note how many property based companies do not disclose as much information as possible when advertising their space…why what have they got to loose by being open. Then there is www.wantspacegotspace.co.uk it might just help you get the space find the space or dispose of that surplus space that you have.
