by Alex | Mar 18, 2016 | Property Development & Project Planning
Last month we posted our project planning checklist and we thought we’d follow up with some commentary regarding the property selection process. In particular renting vs buying and once you have selected a location, understanding local planning rules. Rent vs Buying Our first statement regarding this question is, firstly look to secure a property that will make your practice a sustainable business. This means finding the right location for your practice and this may mean you rent in a location rather than buy for the sake of buying. Property ownership, however, does have its benefits and we will cover this at a later date. Renting commercial premises can be a fairly straight forward process and you could secure a great location for a long lease. A good start is discussing the matter with your solicitor or property advocate. Regarding renting, our main tip is don’t be afraid of a long lease, a landlord should always be open to a lower rent if they know you are in for the long term. You can always sublet the space if you do end up buying and familiarise yourself with the Retail Leases Act as the obligations of the owner and yourself will be covered by this. If you decide that buying is the next logical step and you think a residential property for conversion is the right course of action, this is where the “converting a home to consulting rooms” journey begins. Once again, refer back to our project planning checklist and sit down and start planning the size of premises you need before you start the property search. Understanding the...
by Alex | Feb 27, 2016 | Property Development & Project Planning
We are regularly asked what is involved in the conversion of a house to medical consulting rooms. At the end of the day, converting a residential property used to be quite simple but it is worth asking a few questions that will help marry the property plans with the practice/growth plans. These questions can centre on: Rent vs buy, and what to buy. Planning and design of the new rooms – do you convert or new build. Consulting your neighbours and paving the way for a planning approval. Financing the project. The Building process. Sharing the space/rooms, finding other tenants. Moving in and finally managing the property and practice. On the project planning side (medical and other) we follow a process and a few steps. We have set this out on a one page summary so that it can give you a snapshot of taking your property through the conversion...
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