Formulate an exit strategy from your existing office building
The process of relocating office and searching for new office premises can often be exciting and energising – so much so that it is easy to allow it to eclipse the need to be equally vigilant over the process of leaving your existing office building.
If your lease has come to an end, the priority should be on the dilapidations and disposal costs.
If you are tied into a lease, you may need to face the fact that subletting to another occupier may only serve to reduce your outgoings i.e. if there is a shortfall between your passing rent and the rent you may achieve in the market. It would also be wise to remember that all of your lease obligations go on until the end of the lease term.
You should, therefore, review your lease carefully to fully qualify and quantify your obligations.
If you are assigning your lease, you may also have to provide a guarantee to your landlord to protect him should anything go wrong with the new tenant. Bear in mind, however, that in addition to the rent, you may be able to reduce your obligations in terms of rates and service charge.
If you own the building, the strategy should take into account the process of marketing for eventual sale or lease, in order to ensure that double overheads are minimised.
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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