It can be tempting to take advantage of historically-low interest rates by buying your own office space – however there are many advantages to leasing premises. The Gattinetts Business Centre, above, offers industrial units, workshops and office space to let near Colchester. Here we outline five of the key advantages of renting.
The Initial Outlay
Buying your premises outright usually means paying a substantial deposit, then taking out a loan. This deprives you of money which could otherwise be invested more directly into your business. If you rent or lease premises, the initial deposit tends to be much lower, and you just need to meet the monthly rental charges.
There are other financial considerations as well. Rental costs can be deducted from your profits, meaning you pay less corporation tax. And while rents can be increased, so too can the interest rate on your mortgage.
You Have Plenty of Flexibility
If you want to move your business to new premises, this is a much simpler and quicker process if you aren’t tied down to a long-term mortgage deal, and don’t need to find a buyer before you relocate. With a wide variety of premises available to suit different companies, you shouldn’t find it too difficult to find somewhere suitable if you are expanding and need somewhere bigger. You may not be able to alter or adapt leased premises as much you would if you owned them, but you can always discuss this with your landlord.
At The Gattinetts in East Bergholt, we have a good range of units suitable for small businesses; storage facilities, workshops and industrial space to rent, as well as office space. Our leases are flexible and can be tailored to your requirements. They are usually three-year leases with a 12-month break clause, although longer terms are available.
You Have Fewer Responsibilities
With rented premises, the landlord is usually responsible for overall maintenance and security, although their precise duties will vary from lease to lease. This means you can devote more time to running your business and less to non-core tasks such as worrying about the condition of the fixtures and fittings.
At The Gattinetts our on-site business manager ensures the shared areas are secure and well maintained and is on hand to help with maintenance issues. Our office units generally have oil-fired central heating included in the rent, taking a big worry off your shoulders in the winter.
You’re Part of a Business Community
Many rented business premises are grouped together on the same industrial estate or within a business centre. This can be good for networking, as close contact with near-neighbours can lead to additional business and clients.
And many rental premises boast shared on-site facilities. At The Gattinetts, the Lavender Hall Kindergarten is on site, and offers an invaluable service for any of our tenants who need childcare during the day. Also Fitness and Therapy provide on-site gym facilities and a personal trainer.
It’s Ideal for Start-Ups
If you are just starting your own business, the choice may be between working from home or having your own office. Opting for the latter will help you project a much more professional image and make it easier to entertain or meet clients.
Start-ups find it much easier to rent rather than buy premises, not just because of the lower initial outlay, but also because it provides a fixed cost in your initial business plan. It’s hard enough to predict your initial incomings and outgoings in your fledgling business’s early days without having to factor in changing interest rates. You can move more easily as your company grows, and, in the case of unexpected events, you won’t be landed with a substantial mortgage on a property which you can’t easily sell.
The Gattinetts – Office Space to Let Near Colchester
At The Gattinetts Business Centre you also benefit from our rural location in East Bergholt, which means you also have the benefit of operating on a secure site with its own car park. It’s also much cheaper than most town-centre rentals in places such as Ipswich and Colchester.
Not surprisingly, demand for our office space to let, industrial units, secure storage and workshops is extremely high. If all our premises are fully occupied, then we can add you to our waiting list. Follow this link and fill in the online form. We will contact you as soon as a suitable unit becomes available.