Should I Buy or Build?

This is a question I am often asked and really it’s the first decision you need to make when looking at getting new premises.

The first thing you need to do is really identify the type of building that’s going to suit you, check to see what’s available on the market, talk with an industrial and commercial builder and then decide if it would be better to buy or build.

If you’re a business owner who’s coming to the end of your lease and can understand the benefits of investing in your own premises, or you’ve out grown your current setup and need to move, then you need to ask yourself the following questions so that you can clearly identify what you need.

  1. What location would best suit my business for my staff, my customers and deliveries?
  2. What type of access do I need?
  3. What would be the best size and configuration to maximise efficiency for my warehouse / manufacturing operation?
  4. What would be the best size and configuration to maximise efficiency for my office / admin areas?
  5. What future changes are likely to take place in my business?
  6. What other special requirements do I need to plan for?

Or if you’re an investor who can see the benefits in investing in a commercial / industrial building then you need to clearly identify the type of building that will give you the best return with the least risk. You need to ask yourself the following questions so you can clearly identify what:

  1. Who is the ideal target market group for tenants?
  2. What location would best suit them?
  3. What type of access would suit them?
  4. What would be the best size and configuration to maximise efficiency for the target markets warehouse / manufacturing operation?
  5. What would be the best size and configuration to maximise efficiency for the target markets for their office / admin areas?
  6. What future changes are likely to take place in these industries?
  7. What other special requirements do those industries have?

Once you’re clear, comfortable and decided on what you need then the next stage is to see what is available on the market, both in land and existing building designs.

Often people miss out on the benefits of constructing their own building as they have a perception that it’s too expensive and too hard, but that’s just not the case these days. With a new build you’re able to construct something that matches your needs.

So as well as completing a review of the real estate market, make sure you talk with a commercial / industrial builder. They can give you a feel for how much it would cost to invest in a new building to get exactly what you want, allowing you to see and discuss all of your options.

Once you have investigated all the options you can decide which one best suits you. Make sure you choose the option that gives you a better return on your investment while minimising your risk, that’s in the right location and meets your requirements.

At Clarke’s Design & Construct we are specialist commercial and industrial builders who have detailed knowledge of the commercial and industrial market both in existing buildings and land sales.

We’ve helped many people who are thinking of either moving premises or investing by sitting down with them and helping them identify exactly what they need and presenting them with the options available, making sure they make the right choice.

We can do this for you too.

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