Loading ...Our Property team have just agreed a significant rent saving on a client’s 1,190 sq ft office outside Norwich.
The landlord was proposing to increase the rent from £13,685 pa to £15,500 pa when the client’s lease expired during October 2009. We were asked to investigate and negotiate a renewal as a priority and after a site visit and discussions with the landlord, we were able to identify smaller more suitable premises in the same building and also elsewhere.
Rather than risk losing their client, the landlord was prepared to agree a reduced rent of £8,325 pa. With accompanying reduced rates and savings liability, the year 1 savings are over £10,000 pa, plus we have agreed annual lease breaks.
Furthermore, we were able to ensure that the relocation from the existing space was free of any dilapidations liability, creating a saving of over £10,000 in additional costs.
A new lease has already been agreed and the business will be moving in the New Year.
The moral is that there may be opportunities to save significant costs on property even with relatively low annual costs.
- I have worked in the area of business rates reductions since 1992 and have therefore developed significant experience in this sector. My previous experience was with the leading rating practice in the country and this gave me the best grounding possible. I have since also diversified into areas of Corporate property advice including helping companies with relocations and acquisitions of new accommodation.
- My goals are to enhance our relationships with key and new Clients and to offer a range of services, helping companies decide on their future property needs, costs and allowing their businesses to grow with the right properties.
In these difficult economic times you don't want to miss out on potential cash savings. On 31st March 2010
In the 'IT Cost Reduction Ideas' series, I want to explore the impact that High-Definition Video Conferencing is likely