Smart Investment StrategiesINNOVATIVE ADVICE ON COMMERCIAL PROPERTY LEASES
COMMERCIAL PROPERTY LEASES
Commercial Leases are the backbone of the Landlord and Tenant relationship, they also create value for each party involved. For the Landlord, value in their property. For the Tenant, value in their business.
At NC Real Estate, our lease advisory strategy is simple: make sure that we maximise property value at every lease event. Whether this be lease renewals, rent reviews, lease re-gears or strategic advice on how to implement a leasing strategy into the future.
The Commercial Property Market is constantly changing based on demand, consumer confidence, technology and sustainability.
We understand this and therefore look at both the present and future market when creating innovative lease strategies. We believe wholeheartedly that your property should withstand the test of time.
We understand the importance of making sure that market rent is achieved. We also understand the importance of securing that rental income for a long time and making sure you have good quality tenants who can pay that rent, in order to enhance asset value. Our services will always start with understanding your portfolio goals so that we can produce a tailored negotiation strategy to your property.
We know that leases can be complex and contentious. We have a comprehensive understanding of the Commercial Property Market in the UK and a team of highly experienced Surveyors who are here to support you and your portfolio at any stage of the property life cycle.
Our Lease Advisory work is predominantly in Office, Retail and Industrial buildings and we work with Private Sector Clients, including Large Estates and Smaller Portfolio Landlords across the UK. No instruction is too small.
COMMERCIAL LEASE ADVISORY
When it comes to renewing a lease, we will be there with you every step of the way. From working with you on a lease renewal strategy, to working with your solicitors to serve notices. Furthermore, we negotiate with the tenant to make sure that we get the right lease in place for you.
Where necessary, we can act for you if the matter proceeds to PACT or Court.
We complete lease renewals on inside and outside the 1954 Act Leases. Please note, it’s a really good idea to instruct Surveyors to act for you in lease renewals 12 months before the lease comes to an end as this gives time for notices to be served.
We know how much value leases can unlock in a property. Therefore, it may be beneficial to renegotiate on a lease that’s already in place. This then brings the lease to an end (for example where there is a break) or extends the term.
In order to do this, re-gearing the lease must be in the best interest for the Landlord and the Tenant.
We use our market knowledge plus innovative leasing strategies to make sure we negotiate a new lease that is mutually beneficial whilst maximising the value of the property.
A Rent Review is a clause within a lease which allows a Landlord to review the rent paid by the tenant. Our aim is to make sure that you achieve the right rent at rent review.
We will use market comparables to advise on what the ‘right rent’ looks like and then negotiate on your behalf to come to a mutually acceptable agreement.
Where necessary, we can act for you in 3rd party determination.
Service Charges are important to administer because they keep your property maintained, so it’s important to charge them if they are written into the lease, even if you are trying to be a ‘kind Landlord’. An unmaintained building will loose its value pretty quickly.
However, service charges can also be contentious because of apportionment or disagreements in what tenants think should be charged for.
Our role is to make sure we administer service charges that keep your building well maintained as well as liaising between tenants to make sure they understand how the service charges are being calculated and why they are important. Open, honest and transparent communication is key and it avoids disputes. We will put together a service charge budget, speak to your tenants to make sure there are no disputes and work with your accountant/bookkeeper to administer them.