Tips to Find the Perfect Office, Commercial Property or Venue Hire in Nairobi

Whether you’re a small business, startup or even an established company, the need for an accessible and inspiring office space is non-negotiable. It doesn’t matter what your business is or how many employees you have; some degree of team collaboration is almost always essential for most organizations. Therefore, finding the perfect office, commercial property or venue hire in Nairobi that meets all your needs and is within your budget should be at the top of your to-do list. Whether you plan on moving your business premises soon or want to lease a smaller office to free up some space at home, this blog post will give you some helpful pointers on where to look and what to ask so that you get the best deal possible whenever renting or leasing commercial property.

Nairobi Commercial Property Shortage

Nairobi has experienced a commercial property shortage for many years. This has been attributed to the city’s rapid economic and population growth, coupled with a lack of new commercial property construction. There is a shortage of modern office space in Nairobi and as such, it’s been reported that the average cost per square foot for office space in the city is around $14. The situation may improve slightly in the future, as developers are beginning to shift their attention towards Nairobi’s central business district (CBD). This is expected to increase the supply of commercial real estate in the city, which should subsequently bring prices down. The shortage of commercial space and rising costs of commercial real estate has led to an increase in demand for commercial property hire and other short-term office solutions in Nairobi. The short-term office market has grown and become more sophisticated, with the availability of new work and meeting spaces, as well as the emergence of new independent short-term office providers.

Define Your Office Space Requirements

It's important to define your office space requirements and understand what you need from your office before you start looking for commercial property to lease or hire. Start by making a list of your company’s current and future needs, such as the number of staff you have, or how many you expect to have in the near future. You may also want to consider office amenities and features that would help with productivity and work-life balance, such as WiFi, natural light, or even a rooftop terrace. Additionally, it’s important to consider how long you plan on staying in the space and if it would make sense to purchase the property or lease it. If you’re planning on staying in the same office for longer than a year, it might make more sense to purchase the office space.

Consider the Type of Office You Want to Lease

With the commercial property shortage in mind, you may have to consider a type of commercial office space that you might not have considered in the past. For example, you might have to consider an office in a building that’s being retrofitted, or in a building that’s not yet completed. Alternatively, you may need to consider a co-working space, or a serviced office space. With a co-working space, you’ll have access to common areas such as a kitchen, meeting rooms and event spaces, but you won’t have any private office space. With a serviced office space, you’ll likely have your own private office and access to shared conference rooms and other shared space.

Check the Location and Commute

When commercial property in Nairobi is being considered, it’s important to check the location and how long the commute would be to and from work for employees. Location is one of the most important factors when leasing commercial property, and it can make or break the deal. That’s because the location is relevant to both the employees and the customers of your company. If a commercial property is far away from employees’ homes, they will likely have to spend a lot of time commuting each day, which could create problems with work-life balance. On the flip side, if a commercial property is in an area that isn’t desirable, it could also create problems for employees, as well as customers who come to visit your company.

Ask About Renovations, Renovation Timing and Maintenance Costs

If you’re considering commercial property that is in the process of being renovated, be sure to ask when the renovation is expected to be completed. If you’re leasing commercial property that has recently been renovated, you should ask how long the renovation took and how much the renovation cost the owner. You should also ask about any other costs that come with the commercial property, such as maintenance costs, utility bills or even property taxes, as these could be unexpected expenses.

How to Find Commercial Property in Nairobi?

If you’re looking for commercial property in Nairobi, you’ll need to find a real estate broker to help you with your search. You may also want to consider using an online platform that allows you to post a lease request, which commercial real estate brokers can then view and reach out to you. When searching for commercial property in Nairobi, it’s important to keep an eye out for commercial property scams. There are many ways that people try to scam others when it comes to commercial property and lease agreements. This includes posting false advertisements on rental websites, or forging and falsifying lease agreements.

A Couple of Caveats When Finding and Leasing Commercial Property in Nairobi

Keep in mind that the commercial property market in Nairobi is very dynamic, which means that there are a lot of different factors that could affect the commercial real estate you're looking to lease. This means that there could be a delay in the renovations, or a new development could be delayed. Beyond that, the commercial property market in Nairobi is also quite localized, which means that while one location might be experiencing an increase in commercial real estate, another location could be experiencing a commercial property shortage.

Bottom line

All in all, commercial property in Nairobi can be a great investment opportunity, provided you do your research, have a clear idea of what you’re looking for and are able to plan for any potential delays or changes in the market. Finding the perfect office, commercial property or venue hire in Nairobi, though, can be a challenge, but with these tips, you’ll be well on your way to success.