How do commercial property firms find tenants?

Which businesses are likely to need new space

The businesses likely to need new space are the ones changing shape. Growth, a new market, a merger or a change in how staff work all lead to a conversation about space, usually well before anyone calls an agent.

• Steady hiring that will soon outgrow the current office
• Job adverts for roles in a city where the company has no office
• A funding round or a large contract win
• A merger that brings two teams together
• A move to more home working that leaves too much space

Who decides on an office or industrial move

In a small company the founder or managing director decides on a move, often in a week. In a mid-sized company the operations director or office manager runs the search, the finance director signs off the lease commitment, and HR and IT have a say on commuting and connectivity.

Larger occupiers have a head of real estate or workplace and often appoint a tenant representative agent. Once they have, deal with that agent rather than going round them.

How to find office tenants with headcount and location filters

Find office tenants by matching headcount to the space you have and head office location to your market. A building suited to a few dozen desks points you to companies of that size and a little smaller, since they will grow into it.

Companies headquartered elsewhere but hiring in your city are entry candidates, and often the most open to advice because they do not know the area. For industrial or lab space, filter by the industries that need it, such as logistics, light manufacturing or life sciences.

Why should outreach talk about the move, not the listing

Outreach should talk about the move because a listing email reads like a broadcast, while a note about the reader's growth and the area starts a conversation. Mention what the area offers their team: transport links, the talent nearby, the other firms in their sector.

Offer something useful, such as a short view of what is available at their size, and let the property come up once they want to see it.

What compliance checks apply in commercial property

Anti-money laundering checks apply to estate agency work in the UK, including some high-value lettings, so plan for customer due diligence before a deal progresses. RICS members also follow the professional standards that apply to them, such as the code for leasing business premises in England and Wales.

Data protection law covers the personal details of the people you contact. Confirm with your adviser which rules apply to your firm and your deals.