TOP 10 TIPS FOR FINDING COMMERCIAL SPACE IN LONDON WITHOUT HAVING A COMPLETE BREAKDOWN

Upper Street has just moved into our lovely new headquarters in the West End of London. It hasn’t been an easy ride organizing our big move, so I thought I’d share with you a few things I learned along the way. Read on, whilst I pour myself a big glass of champagne to celebrate.

1. Nail your objectives

First things first, really try to determine what it is you need, and involve key members of your team and customers in this discussion if you can. What does your space need to do for you? Which things are critical and which can you compromise on? When do you need to move in, and what’s your budget? It’s good to get all this on paper at the outset, as you can refer back to it when you need to make critical decisions. I originally set out thinking I would try and find a retail unit in central London, with office space above or below it. After reviewing requirements with the team, I soon realized that this wasn’t the right solution for our headquarters, and we decided to create a brand destination instead, which was quite a shift.

2. Walk the streets

I’m not talking about being a lady-of-the-night here! In a big city like London, there are lots of different areas where you might want to be based, each with it’s own unique feel and advantages. It’s true what they say, it’s all about ‘location, location, location’, and you need to pound the streets to really get to know each area. Mayfair felt a little too traditional for us, Covent Garden a little too touristy. We rather liked Marylebone, which has a nice village feel, and some lovely quaint retail areas. But in the end we plumped for iconic Fitzrovia, which has a quintessentially British feel yet a bit more buzzy and eclectic, and right in the middle of the fashion and media districts; we love it! For some great insight in to the key retail areas in London, check out Appear Here

3. Befriend the property gurus

For those of you who’ve bought a house, you’ll be familiar with just how many properties you have to visit before finding the home of your dreams. Finding a commercial space is no different. If you’re pushed for time, and want to focus your energies on where you can add more value to your business, then use a good commercial agent to take care of this for you. I worked with Ramy Riad at Sentram – he’s not only a really nice guy, but also knows everything there is to know about London retail – all the best spots, which landlords own which area, and what units are coming up. You’ll probably end up paying 10% of the annual lease in commission. Appear Here are great if you’re looking for a pop-up retail space. And I’d also recommend you speak to Harry Eagles at RIB as I’ve found him to be incredibly helpful.

4. Make the landlord fall in love

London is a landlord’s market, the commercial and retail industry here is really hot, so it’s not just about finding the space you love, but you also have to make the landlord fall in love with you and your brand. Landlords put considerable thought into cultivating the right feel for their retail area, and they can be really fussy about who they let in there. They want to make sure that the brands they have complement each other well, and will look after their assets. We were advised to put together a Landlord Pack to get across our brand and aspirations for our physical store. Happy to share this with you if it helps, please contact us at [email protected].

5. Visualise your future

So you’ve seen a good handful of places that your property gurus have shown you, how do you work out which is the best one? Well, usually you’ll just ‘know’ about 2 seconds after you go through the door. Close your eyes, and imagine your business in the space. Will it satisfy your practical requirements; does it have the right brand feel; do you just love it? It might be worth taking a space that’s bigger than you think you’ll need – you can sub-let it in the interim and know that you won’t need to move as your team grows, giving you so much more flexibility and control. Why did I fall in love with 85 Mortimer Street? Because it reminds me of my home, and that’s how I want our customers and the team to feel – at home.

6. Negotiate creatively

There’s a lot more to the commercial property deal than the headline annual rent value, which is already frightening. You’ll probably have to pay a service charge to the landlord, to cover their upkeep of the building etc. They’ll want a deposit, which might be anything from a few months rent to six (depending on how much of a risk they perceive you to be, plus market conditions). Oh, and you’ll need to sign that lease for 10 years. Frightened yet? You should be! On the plus side, you can usually agree a rent-free period to help you get things up and running (2-6 months), and a break-clause in the lease usually at 5 years. Make sure you get the option to sub-let written in. And finally, agree what work the landlord’s going to do before you move in. Our lawyers Taylor Vinters are great, speak to Charlie Fletcher he’s your man. Please don’t forget that on top of all this money you have to pay the landlord, you’ll also have to pay the council business rates (which the local authority will determine, non negotiable, usually around 1/3 of the rent).

7. Design the experience

Now you have the space, how are you going to make it really fly for you? Start thinking about this early, and unless you’re an interior design expert, you might want to get a hand with this. I work with the inimitable Mel Massey who knows all about office and interior design, and is a real tastemaker. The key is making it congruent with our brand – British, individual, welcoming, un-intimidating, a healthy dose of luxury and more than a splash of fun – and making the space work for both staff and customers. We’re keeping our working space light and airy, with gorgeous custom-built Opendesks to fit the space, and some cool magnetic white boards. Making it feel like home with some beautiful pieces of art-deco furniture sourced on eBay, and some cool lighting and art. Most of the rest of what we need is coming from either John Lewis or IKEA to keep the budget under control. The customer Shoe Lounge……well that’s all a bit under wraps for now, you’ll just have to wait and see!

8. PPM (Proper Project Management)

There’s just so much to organize! Electricians! Builders! Carpenters! IT guys! Carpets! Furniture! Music system! First Aid Kits! Toilet roll holders! No detail must be overlooked. My my my, it really needs proper project management, do NOT underestimate this. Someone needs to take responsibility for making it all happen, liaising between you the business owner, and all those contractors who need to deliver services, whilst of course having it ready on time and within budget. Lizzie our fabulous Customer Relations Manager has been the lead contact point within the business, making sure that the vision is realized. And Mel has managed the overall project, doing a sterling job.

9. Manage your move

The move itself is more work than you might imagine. You can pay a lot of money to get the professionals in, or you can get the whole team to pitch in and get it done yourselves. We’ve been clearing things out, selling stuff on eBay, selling off stock etc for a while. And then spent a good week getting it all boxed up – thanks to our amazing interns for all their hard work on this, we couldn’t have done it without them. Then the whole team put aside a Sunday to do the move; with the help of a couple of guys and a van from the utterly helpful Izzy Removals, and it was all done in a matter of hours. Although… we are still unpacking those boxes. (PLEASE don’t make me move office again for a few years).

10. Plan the papertrail

Quite a bit of boring admin to sort out towards the end of the move process. Of course you’ll need to tell everyone about your address change, including the bank, utilities, suppliers and of course customers. Get your post redirected by the Post Office to cover you during the transition period, and make sure there are friendly folks in the space you’re leaving behind who can pick up any post that gets missed. There’s a lot to do when settling into your new office too – staff inductions, health and safety, establishing how you’re going to run the new place, who’s going to buy the toilet roll, who needs keys, how to lock up at night. Try and plan ahead for what’s needed rather than being overwhelmed when you’ve just arrived (as you’ll be too busy unpacking those damned boxes!).

A final thought to leave you with: the whole process will take FAR longer than you think. For us, it took six months, but it could easily have been longer if we hadn’t found the right space.

Can’t wait to welcome you over to the London Shoe Lounge, which will officially open in September. We’re already taking bookings, so do get in touch to get your shoe design appointment in the diary.