Our Services
Rent Reviews, Lease Renewals
Our bread and butter.
Rent reviews and lease renewals require in-depth market knowledge, understanding of comparable rental evidence, forensic lease analysis, good negotiating skills and an understanding of the tenant’s business. We match all these components to achieve the best result, often finding angles through our experience which might not be obvious to a tenant.
For example, tenant’s are often quoted headline rents whereas they should only be paying net rents on review or renewal. There can be a significant difference between the two.
Many occupiers will understand their business and often reach a rent settlement they are content with, but which might still be well in excess of the market level, potentially missing out on substantial rent savings.
We have extensive experience in negotiating rent reviews and lease renewals on properties ranging from traditional office, industrial, retail and leisure properties to railway arches, leisure clubs, art galleries, care homes and bare land.
Lease Restructuring
Leases are contractual obligations, firmly set in stone and often lasting for several years, and containing old fashion “upward only” rent reviews. Yet businesses constantly evolve, grow or face a change in circumstance, making the original lease terms unsuitable. This does not mean they are incapable of change, should those changes be acceptable to both parties, including seeking a reduction in the contractual rent. If a client has a desire to vary its lease obligations or surrender its lease, we will look at all options to achieve this.
Whatever the issue and however reluctant one side might initially be, we have successfully restructured many leases through creative and original solutions.
Acquisitions + Relocations
Finding suitable premises is only half the task. It is important to consider many aspects when negotiating the lease such as the term/length, break options, repair liability, rent and of course the rent-free period. As well as sourcing and securing properties, we assist clients in negotiating lease terms and managing acquisitions for properties they have identified themselves. After instructing solicitors, some agents might ‘disappear’ until the lease is completed and they are ready to invoice. We believe in managing the transaction through to completion. This will typically include liaising with your solicitor, architects, contractors and fit out team so you can focus on what’s important to you…running your business!
Business Rates
Business Rates is one of the most significant property overheads facing commercial business occupiers. The rate of tax is applied against your property’s Rateable Value, which is currently reviewed every 3 years. We work closely with a specialist consultancy with an excellent track record in challenging and appealing Rateable Values on behalf of occupiers, with a view to reducing business rates.
Strategic Portfolio Management
For companies occupying multiple premises, we offer a strategic review of your lease agreements. It may be you occupy premises of varying shapes, size and use with different landlords and individual lease agreements for each site. We can review your tenancy agreements and consider how they might work better for you and your business. This could involve considerable cost savings across your portfolio, or aligning leases so they are adaptable to your business rather than the other way round.
