How flexible are lease terms?

Typical conventional lease terms can range from 3 – 15 years. This can be an issue when a typical business struggles to predict their own growth cycles beyond 2 years. This anomaly between the ability to predict expansion and the ability to future proof your office space makes the incorporation of flexibility in your office lease crucial.

One reason why an occupier wants to secure a longer term lease on an office is to lock in a predictable rental cost over a longer period of time whilst securing rent free incentives from a landlord to cover fit-out costs and other move costs.

In today’s ever changing business environment and fast moving economy it might seem better for businesses to secure short term spaces but more often than not shorter term leases are less cost effective in improving markets.

With this in mind City Office Space spends a lot of it’s time negotiating lease terms for occupiers in order to provide maximum security with the added advantage of maximum flexibility. We do this by incorporating renewal and extension options, right to assign and sub-let, termination and contraction options and rights of first offer and refusal.

We firmly believe that being forewarned is being forearmed.