Published on February 24, 2014
Joining the Social Property Ladder Practical advice & insights
Finding the right property for your organisation Do these things sound familiar? • It needs to be affordable • It needs to be fit for purpose • It needs to have the facilities we need • The space needs to grow with us If so read on for our top questions and tips on handling the social property landscape to get what you need.
Step 1 – Get the right mindset Don’t think bricks and mortar think infrastructure In this context infrastructure stands for: ‘the physical facilities, structures, systems, relationships, people, knowledge and skills that exist to support and develop, co-ordinate, represent and promote organisations’, that enable them to deliver their missions more effectively’ Source: Change Up ‘Capacity Building and Infrastructure Framework for the Voluntary and Community Sector’.
Step 2 – Consideration 1 Do you really need premises? • It’s often on the tick list for a new organisation but often they are not immediately required. • Remember ordinarily premises come with a lease and associated initial Capital Expenditure demand and ongoing variable overhead costs • List your organisations requirements & evaluate office premises options against your specified criteria and budget. • Consider options such as Hot Desks to get you started.
Step 3 – Consideration 2 Do you need dedicated and private office space? • No? Then think about shared office space, with this you gain; • A community of like-minded organisations • Access to many shared resources • One fixed cost that is both predictable and easy to budget for. • Flexibility to grow your office space alongside your organisation without the need to re-start your premises hunt.
Step 4 – Consideration 3 Choosing the right location • Deciding what makes a good location is vital: • Premises should have good transport links and be in a convenient location for customers, potential users, beneficiaries, employees and suppliers • Decide what other facilities you might need, i.e. parking, banking, places to eat, etc. • And remember: rates can vary widely between postcodes and boroughs!
Step 5 – Prepare your forecasts Rental increases are likely across key cities in 2014 • If you are looking to take on a premises or renew an existing lease watch out and prepare for increased rent. • It’s a primary cost and could severely impact your running cost forecasts if ignored. • Look into rate relief via your local borough, each area is different but there could be support.
Step 6 – Get ready for your move If you’re ready don’t delay just ensure: • You consider the previous steps and advice • Look for guidance, advice and other peoples experience • If possible you invest in expert advice to provide you with a list of your options
Optimise your costs Why not make one of your aims for 2014 to get your infrastructure costs optimized and streamlined, to free up budget and time to focus on the delivery of your organisation’s mission.
To find out more about CAN Mezzanine and our property services why not: Visit – www.can-mezzanine.org.uk Connect with us: @canhq CAN Social Enterprise CAN
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