Tenant & Landlord Representation

• How is the market rent for a property determined?

  Market rent depends on a number of factors, including location, use, building quality, amenities, floor area and the supply of competing properties available on the market. A market study allows the property to be compared with similar assets and prevailing letting terms to be analysed.

  This helps define an appropriate letting strategy that is consistent with market conditions and the owner’s objectives.

• What strategy should be adopted at lease expiry?

  A “Stay vs Go” analysis provides an objective comparison between remaining in the existing premises and relocating. It takes into account factors such as the company’s future requirements, occupancy costs, required investments, location, flexibility of the space and the terms of the lease.

  This analysis helps identify the most suitable real estate solution before entering into negotiations with the landlord or beginning a search for new premises.

• When should a company start preparing its search for premises or the renegotiation of its lease?

  Ideally, a company should begin planning its real estate strategy sufficiently far in advance of its lease expiry to keep several options open. This lead time allows the company to assess its future requirements, explore opportunities to renegotiate its existing lease and, at the same time, evaluate alternative premises available on the market.

  Starting the process early also strengthens the company’s negotiating position and allows sufficient time for the property search, fit-out works and relocation.