In the real estate sector, commercial properties like office for sale in Malta have a distinct place. Before buying an office in Malta, you need to know that there are different categories that comprise the different types of commercial real estate.
In case you want to rent or invest in a commercial Malta property, make sure you know about these.
Commercial property classes and permits
Before buying an office for sale in Malta, one must obtain commercial property classes and permits according to the law. A landlord must comply with the 18 commercial classes dictated by a separate permit. These are:
- Class 1 – Dwelling for residential accommodation, lodging or personal residence, a portion of which is also used for commercial occupancy or to perform a service.
- Class 2A – Residential Institution – A residence for persons in need of temporary or permanent care, such as a hospital or nursing home.
- Class 2B – Non-residential institution, such as a museum, library or public hall.
- Class 2C – Educational institution – school, day care center, etc.
- Class 3A – Guesthouse, Palazzino, Boutique Hotel, hostel, etc. – a residence for several persons requiring generally temporary accommodation.
- Class 3B – Hotel.
- Class 3C – Meeting and recreation facilities such as cinema or theater, health club, etc.
- Class 3D – Marine recreation facilities for mooring, sailing, diving, or any other marine sport or recreation.
- Class 4A – Offices
- Class 4B – Retail premises for all retail products and their display, except motor vehicles.
- Class 4C – Food and beverage establishment where no cooking is permitted.
- Class 4D – Food and Beverage Establishment where cooking is permitted
- Class 5A – Light industrial, including product/process development, crafts, etc.
- Class 5B – General industry as in industrial process.
- Class 5C – Specialized industry in metal processing, minerals, etc.
- Class 6A – Storage and distribution.
- Class 6B – Shipyards
- Class 7 – Agriculture – crops or animals
Offices for sale in Malta and Gozo
Before buying an office for sale in Malta or Gozo, you may need to ascertain the boundaries of the commercial property you wish to invest in or lease and obtain the necessary information from the relevant authorities. For this, you should consult a professional architect.
How can Office Search help you?
Beyond being a real estate agency, Office Search offers a complete service regarding the administration and compliance of all necessary documents through its commercial and financial departments. We also offer financial advice on your real estate investment.
Before purchasing offices for sale in Malta or any other type of commercial property, come to us as we have the largest database of commercial real estate in Malta and Gozo.
Buying offices in Malta, such as offices for sale, can be a tough task. As a result, we’ve written this article to provide you with some advice on how to buy offices in Malta. While it might be tough to invest and purchase an office in Malta, we at Office Search will do everything we can to help you get the most of your commercial property investment.
Buying offices in Malta tips
There are a number of key factors to consider before buying an office in Malta or any other type of commercial real estate. What’s your budget? What type of industry your business is operating in? Is the daily commute of your employees important? And what other major considerations are involved in ensuring – to the best of your ability – that you’re buying the best office in Malta?
In this article we, at Office Search, will guide you, irrelevant if you are a local entrepreneur searching for to buy or rent an office in Malta, searching for an office block for sale to expand your organisation or a foreign investor relocating to the Maltese islands.
1. Commercial property class
All commercial properties including offices in Malta fall under one out of 18 different commercial classes that are grouped by category. Each class requires a specific permit that depends on the nature of the business (residential, tourism, leisure etc.), the type of property, the insurances and safety specifications tied to the premises, and possibly even the location itself. An architect can help you better understand the remit of your business activity within the property.
Another important point to consider is the size and amenities you will need to run your business in the new property. Are you running a one-person B2B requiring minimal office facilities, or do you plan to grow in the short term and need to factor in room for multiple cubicle workstations? Will you need a generous space to store stock, a waiting area to receive clients or wheelchair-accessible facilities, including rest room?
Read more in detail about the different commercial property classes before investing in an office for sale in Malta.
2. Decide your budget
When purchasing an office in Malta or any other form of commercial property, the most fundamental yet crucial factor is determining your budget. Choosing your available budget is critical since it influences the sort of office you can afford and the location of the office or other commercial property you want to buy in Malta.
3. Office appearance
Although your budget is important when selecting your perfect office, the appearance of the workplace is as important to you, your staff, and, most importantly, your clients. The internal and external aesthetics of both the office and the office building have a major role in the appearance of an office. It is important to make a good first impression. Consider this scenario: If you are a consumer seeking a service from a firm and go into a run-down building, and office, you are likely to have reservations about the organization’s appearance and sincerity. As a result, the office appearance here is primarily concerned with the ‘wow’ element from the time you enter the building until the office kitchen.
4. Natural light
Before buying or renting an office in Malta, another important tip that we have for you is the amount of natural light. Your workers will spend most of their working day indoors, hence, it is important to buy an office with ample space and natural light. This is because natural light not only is important for your workers health but is also important for their motivation.
In Malta, you can find commercial spaces like offices pretty much anywhere you look, making it quite possible to find one in the locality of your choice and maybe even close to home, especially if doing away with your daily commute is a priority. But remember, certain businesses can only operate in certain areas, like maritime companies and law firms.
Personal preference and convenience aside, it is very much in your best interest to do your research on location well, as this can be critical to the success of your business. Would you be better off somewhere quiet and away from the competition, or would you rather find somewhere central where you can feed off the hustle and bustle that brings you welcome foot traffic? Is your client base typically deterred by lack of parking, or won’t you be meeting customers in person?
Try to project how business in different locations will look at different times of the day, week or year, and find out if there are seasons that drive business in the area, like when school is in session.
Once you’ve hit on a property, agreed on a price with the seller and are ready to seal the deal, it’s time to sign a preliminary agreement (konvenju) that binds you both to sign the final deed of sale within a stipulated timeframe. This will give you time to sort out your permits and bank loan, while the seller completes any remaining work agreed on in the contract, and the Notary Public conducts the necessary legal searches. A few short months later, the commercial property is all yours!
Why choose to buy an office with Office Search?
At Office Search, we specialize in offices for sale or rent in the local commercial real estate. Hence, choosing us, means that we will take your business to the next level. With our help, your search for the perfect property in Malta will be made easier. Contact us today to benefit from our expertise.