Bond Woodhouse often assist clients in negotiating the renewal or restructuring of their existing property leases.
If you are approaching the end of your current lease, but you feel that your preference would be to continue your stay rather than relocate, then our advice would be to engage with us before you begin discussions with your Landlord. By allowing us to manage your renewal negotiations you will benefit from a highly strategised, analytical approach, which will be based on up-to-date dealing evidence data, and a proven knowledge of achievable dealing terms for comparable spaces in your location. This will ensure that you are not exposed to settling for your Landlords preferred dealing terms, rather, you will be able to take confidence that the new agreed terms are comparable to the open market value, and your position is maximised.
Alternatively, you may be part-way through your lease, and without a desire to relocate, but there may be a number of strategic reasons for which you may wish to consider restructuring/re-gearing your lease:
- greater security of tenure
- improving cash flow (reducing rent, obtaining rent free periods - subject to market climate)
- removing onerous lease terms
- surrendering surplus space
Evaluating the potential gains from a lease re-gear depends on the objectives of, and negotiating strengths of the parties involved. It is not a straightforward exercise, but if managed properly this can be an exceptionally effective method of realising the preferred property objectives for our occupier clients.