1. Build a requirement brief before viewing properties
A vague requirement produces a long list and weak comparisons. Define the business variables first: headcount, growth, client visits, work pattern, location constraints, layout, budget, parking, building hours and possession date.
Minimum brief
- Current and 24-month projected headcount
- Preferred locations and acceptable alternatives
- Furnishing format and fit-out ownership
- Carpet area or space-program requirement
- Monthly occupancy budget and deposit tolerance
- Cabins, meeting rooms, training rooms and storage
- Parking, visitor traffic and accessibility
- Target possession date and lease tenure
2. Calculate area from the layout—not a generic ratio
Area-per-person rules can mislead because a 50-person sales office and a 50-person engineering office may need different meeting, collaboration and acoustic requirements. Prepare a space programme and test it against the actual floor plate.
Two offices with the same chargeable area can deliver very different usable space. Compare carpet area, column grid, core placement, floor shape and common-area loading.
3. Compare total occupancy cost
Headline rent does not show the full commercial impact. Build a common comparison sheet for every shortlisted property.
| Cost line | Questions to ask |
|---|---|
| Rent / licence fee | Rate, area basis, escalation, rent-free period and billing date |
| Deposit | Amount, refund timing, deductions and bank guarantee options |
| Maintenance | What is included, escalation, reconciliation and operating hours |
| Taxes | GST, property-tax treatment, TDS and other applicable charges |
| Fit-out | Who pays, ownership, approvals, handback and reinstatement |
| Parking | Included slots, paid slots, visitor parking and allocation rights |
| Transaction | Brokerage, legal, due diligence, stamp duty and registration |
4. Verify the property and agreement
Do not treat a site visit or marketing brochure as due diligence. Obtain specialist review appropriate to the transaction.
- Ownership, authority to lease or sell and encumbrance checks
- Approved use and relevant building permissions
- Fire, occupancy and operating compliances
- Power, HVAC, lifts, water and access reliability
- Lease tenure, lock-in, notice, escalation and renewal
- Fit-out approvals, signage, subletting and assignment rights
- Default, termination, indemnity and restoration clauses
Property advice is not legal advice
Use qualified legal, tax, structural and technical professionals for formal opinions. The commercial advisor should coordinate the process, not replace specialist review.
5. Score the shortlist
Use a weighted score rather than relying on one decision-maker’s first impression. Typical categories include commute, client access, total cost, building quality, layout efficiency, flexibility, compliance and expansion capacity.