Part 2: Location
Having the ‘right’ postcode might not in itself swing a potential new client in your favour, but it can certainly help to set prospects’ minds at ease. Where you choose to base your business can speak volumes about your priorities and aspirations.
Logistical considerations are also important when it comes to location. How easy is it for clients to drop by? What type of commute will your staff be facing? How close are you to other businesses in your niche?
Here are the points to keep on your radar as you weigh up the merits of different areas in and around your city…
ARE YOU OVERLOOKING KEY AREAS OF YOUR STATE?
You’re familiar with the CBD – but are you up to date on the new opportunities opening up along the City Fringe? Could a prestigious CBD property be more accessible than you thought?
Sydney’s geography, as an example, is evolving constantly. It’s easy to overlook interesting developments in what were once overlooked corners of the city. At the same time, as new projects constantly work their way through the development pipeline, new opportunities arise in established locations.
SHOULD YOU HEAD FOR A SECTOR HUB?
There is a long tradition of industry sectors clustering in certain locations. The influx of tech firms in Sydney City’s Martin Place is perhaps the most notable recent example of this.
But not all businesses choose to head straight for a hub. There could, in fact, be sound strategic reasons for placing your people slightly outside of what might be regarded as your sector’s natural ‘home’. By no means is it unusual to find finance, professional services, tech, industrials and third sector organisations rubbing shoulders – often all in the same building.
As you consider different locations, focus on the following:
- Customer expectations. Be clear on your business branding and make sure your chosen geography enforces these values.
- Collaboration and referrals. Do you intend to build relationships with companies who offer complementary services to yours? Being in close physical proximity to those businesses could make sense.
- Attracting talent. Especially for smaller companies, your presence in a sector cluster can help to catch the attention of new recruits.
- Client location. There can be benefits in embedding’ your staff in or near where your client base is situated. Medical practices of various specialities are an obvious example of businesses which benefit greatly from being within close distance of each other due to referrals being a common practice.
To assist you further with this, an LPC Cresa tenant representative can help you map out notable businesses already present in Sydney’s various locations – as well as dominant sectors in each area.
To find out more about how we can help you find and secure the perfect office space, contact us or call on +61 2 9235 1300