commercial property lease prices
Discussion
Anyone else having trouble with lease prices on commercial property? Owners are only wanting to give short term leases because they think they will be able to charge loads more in 12 months. And obviously im wanting a 3 year lease at todays rate.
Cant seem to find the middle ground and get a decent rate with anyone, its so bad im probably going to have to walk away from a deal this week because of it.
Cant seem to find the middle ground and get a decent rate with anyone, its so bad im probably going to have to walk away from a deal this week because of it.
LeeThePeople said:
Anyone else having trouble with lease prices on commercial property? Owners are only wanting to give short term leases because they think they will be able to charge loads more in 12 months. And obviously im wanting a 3 year lease at todays rate.
Cant seem to find the middle ground and get a decent rate with anyone, its so bad im probably going to have to walk away from a deal this week because of it.
Have you got an agent working for you? It can made negotiation of the commercial terms a little easier. Cant seem to find the middle ground and get a decent rate with anyone, its so bad im probably going to have to walk away from a deal this week because of it.
I'd opt for walking away and see what happens....Landlords are still looking at paying empty rates on most properties and unless it's an odd market I doubt they've got someone else lined up.
They will also be trying to protect their comparables for rent reviews if they have other properties so by entering into short leases so that they aren't producing evidence that rents are lower.
Thanks for the posts guys, Piglet you raise interesting points.
We have an agent working for us and we have walked away from one deal already, might have to tell him if I walk away from this one ill find another agent. Agents are having a rough time at the moment so you would think they would be working hard for business.
We have an agent working for us and we have walked away from one deal already, might have to tell him if I walk away from this one ill find another agent. Agents are having a rough time at the moment so you would think they would be working hard for business.
You should be able to get a good deal on a 3 year lease. Focus on rent free rather than the headline rent as this is where landlords are happier to give concessions. Any landlord ignoring a tenant in this market is either very brave or very stupid!
We certainly aren't predicting an upswing in rents in 12 months, 3 years is more likely in my opinion.
We certainly aren't predicting an upswing in rents in 12 months, 3 years is more likely in my opinion.
You should be able to get a good deal on a 3 year lease. Focus on rent free rather than the headline rent as this is where landlords are happier to give concessions. Any landlord ignoring a tenant in this market is either very brave or very stupid!
We certainly aren't predicting an upswing in rents in 12 months, 3 years is more likely in my opinion.
We certainly aren't predicting an upswing in rents in 12 months, 3 years is more likely in my opinion.
Very surprising you can't get a 3 year lease, as most Landlords want occupiers now! The business rate issue will only apply if the RV is greater than £15,000.
Some stunning rent frees being reported at the moment, especially on City of London offices. Whilst it is good to seek a large rent free and ignore the headline rent, don't forget it is the headline rent the landlord will quote to others, and if you choose to renew in 3 years it will be the headline rent the Landlord is trying to increase.
Some stunning rent frees being reported at the moment, especially on City of London offices. Whilst it is good to seek a large rent free and ignore the headline rent, don't forget it is the headline rent the landlord will quote to others, and if you choose to renew in 3 years it will be the headline rent the Landlord is trying to increase.
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