Start with the Tenant’s Business Need

Commercial demand is not one market. A street-facing shop depends on visibility, pedestrian or vehicle flow, parking and the surrounding customer base, while an office depends more on access to business districts, transport, building quality and the needs of the teams likely to occupy it.

Use the wider commercial market guide as context, but assess demand at building and unit level because two nearby properties may serve very different businesses.

• Define the likely tenant before comparing units
• Match demand drivers to the property type
• Assess the building and unit, not only the district

Test Location, Access and Daily Practicality

Visit the property at the hours relevant to its intended use. Check entry points, parking allocation, delivery access, lift capacity, signage visibility and the route from nearby roads or public transport. These details affect whether a business can operate comfortably and whether customers or staff will return.

Review current business formation trends as one demand signal, while confirming that the unit fits the practical operating needs of the tenant category you are targeting.

• Inspect access during relevant operating hours
• Check parking, delivery and signage conditions
• Separate citywide demand from unit-level suitability

Verify Occupancy and Leasing Evidence

Ask for evidence that can be checked: current lease terms where applicable, occupancy history, recent asking periods, tenant incentives, fit-out condition and comparable units in the same building. A headline rent is less useful if the space required a long vacancy or a large contribution to become leasable.

Use the guide to rental yield and total return to separate headline rent from service charges, maintenance, vacancy, leasing costs and fit-out exposure.

• Review verifiable leasing evidence
• Account for vacancy and incentives
• Compare net income, not headline rent alone

Confirm Use, Costs and Exit Demand

Before booking, confirm the permitted use, ownership documents, building rules and any approvals needed for the intended activity. Then model the holding costs and ask who is likely to buy the same unit later: an owner-occupier, an income investor or a business seeking a fitted space.

A clear exit plan helps prevent choosing a specialised unit with a very narrow buyer or tenant pool unless the pricing and strategy justify that limitation.

• Confirm permitted use before purchase
• Model all recurring ownership costs
• Identify both future tenants and resale buyers