Approach your Landlord!
Since the property crash of the early 1990’s, the relationship between Landlords and tenants has markedly improved.
The old 25-year lease has been replaced with shortened 10-15 year terms, often with a 5-year break clause built in. Landlords consequently are becoming keener than ever to keep good tenants in their office buildings.
The chances are that your office refurbishment will add value to the Landlord’s investment. It’s therefore a wise move to approach him at this early stage to let him know your intentions and to review your lease terms.
You may well be able to negotiate a capital contribution, improved rental terms or even be able to renegotiate onerous rent review and dilapidations clauses in return for the improvements you are making, or for extending your lease term.
You also want to make certain that your Landlord is going to ultimately give you approvals to do the work and therefore his initial agreement is vital before the process of office refurbishment is taken too far.
If you have no direct lines of communication or prefer to leave this area to someone else then the appointment of a commercial property agent would be advisable.
A commercial property agent is best placed to understand the effect that your office refurbishment could have on the property’s investment value and would advise you on current market conditions if you were to decide to renegotiate your lease terms.
Maris Interiors LLP is the UK’s leading specialist in workplace consultancy, workplace optimisation, office design, office refurbishment, office fit-out and office relocation. Maris design and create world class working environments for occupiers throughout the UK and continental Europe. The Maris team of experts has extensive and in-depth knowledge of how good office design and fit-out can substantially improve business performance, save vast amounts of money and help retain and attract key people.
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