Whether or not you decide to lease or purchase commercial premises is not clear cut. In order to decide which is the best option for you, you should first do an in-depth assessment of the short, medium and long-term requirements of your business.
In most cases, leasing commercial property makes the most sense, given that the majority of businesses are unable to predict their future space requirements for extended periods of time. Leasing also provides flexibility around fluctuating variables like space requirements, optimal locations and budgetary constraints.
The exception to this is if your operating site is crucial to the ongoing operations of your business. In this case, purchasing your commercial property would be advisable – particularly if you think you’ll occupy the commercial premises for a period of five years or longer.
Should your business need to formalise a commercial real estate strategy around your business objectives, contact an experienced, knowledgeable property practitioner for assistance.
We’re on hand to help – call Simon at Black Pepper Properties on 083 261 2861.