How to assess the best commercial property for rent?

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Commercial and Industrial Properties Singapore

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Assessment For Commercial Property For Lease

How to assess the best commercial property for rent in Singapore?

Assessing a good commercial unit for rent involves considering several factors to ensure it aligns with your business needs and goals. Here are some key aspects to consider when evaluating a commercial unit for rent:

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Location:

Choose a location that is easily accessible for customers, suppliers, and employees. Consider factors such as proximity to transportation routes, target market, competition, and overall visibility.

In Singapore, the major business nodes are at the Central Business District, Tampines Regional Centre, Woodlands Regional Centre, and Jurong Lake District. Industrial estates and business parks are located at various areas, including One North, International Business Park, Punggol Digital District, Jurong Industrial Estate, and more.

Rental rates at premium locations in the Core Central Region or nearer to the Core City are generally higher than those at industrial parks and business parks.

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Size and Layout:

Evaluate the size and layout of the unit to ensure it can accommodate your business operations effectively. Consider factors such as floor area, ceiling height, storage space, and any specific requirements for your industry or business type. Utilize space planning guides, such as those offered by CosySingapore, to estimate the right size for different areas within your organization.

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Foot Traffic and Target Market:

Assess the potential foot traffic in the area and whether it aligns with your target market. Consider the surrounding businesses, nearby amenities, and any local attractions that may attract potential customers. Access to ample parking facilities or proximity to MRT stations can also be important considerations.

Infrastructure and Utilities:

Evaluate the availability and quality of essential infrastructure and utilities, including electricity, water supply, HVAC systems, internet connectivity, and telecommunications infrastructure.

Condition and Maintenance:

Inspect the condition of the commercial unit, both interior and exterior, for signs of wear and tear, structural issues, or maintenance requirements. A well-maintained unit will create a positive impression and save you from potential future costs.

Lease Terms and Flexibility:

Review the lease agreement carefully, considering rental price, lease duration, renewal options, and additional costs or fees. Ensure that the lease terms are favorable and flexible enough to accommodate your business's growth or changes in the future.

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Parking and Accessibility:

Assess the availability of parking facilities for customers and employees, as well as the overall accessibility of the unit. Consider public transportation options, nearby parking lots, and compliance with accessibility standards.

Safety and Security:

Evaluate the safety and security measures in place, including surveillance systems, alarm systems, fire safety equipment, and emergency exits. Ensuring the safety of your employees, customers, and assets is crucial.

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Zoning and Legal Compliance:

Verify that the commercial unit is zoned for your specific type of business or activities and complies with all applicable regulations, permits, licenses, and building codes.

Cost and Financial Viability:

Consider the rental cost in relation to your budget and projected revenue. Assess the overall financial viability of the unit, including potential return on investment, operating expenses, and any additional costs associated with the unit.

It is recommended to visit the commercial unit in person, thoroughly inspect the space, and ask relevant questions to the landlord or property manager. Additionally, consider seeking professional advice from a real estate agent or lawyer to ensure a comprehensive evaluation and understanding of the terms and conditions before making a final decision.

‎commerical-property-for-rent-Singapore-checklist

At CosySingapore.com, we provide a detailed checklist for each of our tenant clients. A checklist can serve as a helpful tool to ensure that all necessary considerations and requirements are addressed before signing a lease agreement. It promotes a structured and systematic approach to evaluating, selecting, and securing the right commercial space that aligns with the tenant's needs, priorities, and legal obligations.

Additionally, there are listings available for various types of properties for rent, including

B1 Industrial Units,

B2 Industrial Units and

Office Space