Commercial Property Guide
Defining your initial requirements
When contacting us about your retail requirement it would be very useful for us to find out a bit more about your business, this gives a greater understanding of your property requirements and search criteria.
Whilst you may have selected one property in particular there may be other opportunities that are just as suitable or even better for you and your customers. Information that would help us includes:
- Business type (i.e. what are you planning to sell from the unit)
- Is this an existing business or a new start up?
- If it is a new start up what is the background to the new start?
- Where is your preferred location?
- Required size of unit either in square ft or metres (the minimum and maximum)
- When would you like to up and trading by?
Once we have that information we can then forward to you directly the details of any opportunities we have that could satisfy your requirement. While initially, some may not fit your original criteria we hope that our experience and knowledge of the market may be some food for thought. It is worth noting that we have had a number of instances recently, where retailers have contacted us with specific location requirements in mind but subsequently successfully located in one of our buildings elsewhere within Manchester.
The Next Step
Once we have identified a unit or opportunity that suits your business we are able to provide you with full details of the location and any background statistics that may be of interest to you. We can also provided electronic CAD plans for you to undertake your space planning exercise.
Before we are able to discuss the terms of a deal we will need information from you. If you are retailer expanding, we’ll need three years audited accounts and details of the company (brochure and/or website) and an indication of the latest unit occupied, its shop front and shop fit.
New Start Up Companies
We are more than happy to discuss opportunities with new independent operators and due to our company structure are able to have more flexibility than most. However, we will need full appreciation of your business and this is usually presented in the form of a business plan. That’s not to say we want reams and reams of paper work but we do need a full understanding of your retail proposal and confidence that your proposed business will succeed and be able to pay the outgoings that it will attract.
Below is a list of the key elements of the business plan. However, the more detail we can have the better. That said, if you have any queries about how the information should be presented or the detail, please contact the retail and leisure team and we will be happy to talk you through.
- 1. Introduction
- 2. Company Information
- 3. Market Analysis
- 4. Marketing
- 5. Financial Projections
The financials are important for both you and us, as you need the comfort that your business is sustainable before you proceed. In the financials ideally we would like to see profit and loss, balance sheet and detailed cost projections.
You will no doubt have a keen grasp of the income you are likely to generate however don’t forget to include all the costs, which will include:
- Rent
- Service Charge
- Buildings insurance
- Contents insurance
- Business rates
- Electricity
- Water rates
- Shop fit
- Furniture
- Rental deposit
- Legal fees
- Staff costs
- Bank loans
- Staff remuneration
- Employees national insurance
- Cleaning repairs and maintenance
- Administrative expenses, printing
- Postage
- Stationary
- Telephone
- Business insurance
This list is far from exhaustive and the costs attributed to your business will be driven by your specific operation.
Independent Retailers
We do have a wide variety of retailers throughout our portfolio; both new start up, independent, national and international. We are keen to foster a healthy mix of all and work with all retailers whatever stage of their business.
