Go grab a bargain!

If your lease is coming to an end in the next six to nine months, then is this the time to consider a move? Most firms couldn’t conceive of relocating if their business is dependent on production or location issues that dictate where they are based. So to a degree, this cannot apply to all. However, the recession is now creating a real disparity between the incentives available to a new occupier and those to a tenant that simply stays put and renews.

Property values are at their all time low, market expectations for rental growth are negative and empty rates and other property costs are making landlords even keener than ever to do deals.

For example, on a new ten-year lease term with no break and a review at the fifth year, a tenant could now expect to receive at least one year’s rent-free! In effect, reducing your rent by a huge 20% for the first five years! Now that would look good on your profit and loss account! Secondly, one year’s saving in rent would go a long way towards your moving costs, let alone giving you a more modern building; more suited to your business with better efficiency ratings (energy, ergonomic and business efficacy).

We are experienced asset managers for occupiers. We can help Finance Directors prepare reports for their Boards with the available properties and thereafter seek, negotiate and guide the company through the entire acquisition process.

We can advise you on:

• What are the correct market incentives
• What protection measures are required – Schedule of Condition
• Assess all freehold and leasehold values
• Assess all rates, service charges and dilapidations issues
• Environmental, contamination and survey requirements
• Disability Discrimination Act Compliance
• Health & Safety Risk assessments
• Energy Performance Certificates
• Asbestos at Work Regulations

For further information call Simon Moffatt BSc FRICS IRRV