11 June 2009
With the current economic climate offering very favourable negotiating conditions for occupiers of commercial premises, a recent project undertaken by Hicks Baker demonstrates how tenants do not necessarily have to move premises in order to achieve savings on their operational costs.
Acting on behalf of Sepura Plc, Hicks Baker successfully reviewed the lease terms on their Reading offices at Green Park, negotiating greater lease flexibility, a rent reduction and a further rent free holiday....even though they did not have to move!
Sepura took advantage of an imminent lease expiry and, helped by Hicks Baker's detailed market knowledge and research, achieved significant savings to the business bottom line. However, tenants do not have to wait until their current lease is approaching its' end to extract value. As Partner Peter Fry points out: ‘In current market conditions, any tenant with less than 5 years remaining on their current lease should be considering the possibilities created by this opportunity and take advice to maximise the benefits potentially available'.
For further information please contact Peter Fry or Stephen Head or refer to Hicks Baker's re-gearing Factsheet.
Download Hicks Baker Factsheet 'Benefits of Lease Re-gearing'
Save money without moving!
Sepura deal highlights opportunities for tenants ...read more...
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New position available in Property Management...read more...
Major new town centre development directly opposite Reading Station. Prominent corner position with good on-site parking. Pre-let enquiries invited.
