As commercial property advisors, our clients best interests are at the heart of what we do, and when we were approached to carry out a lease renewal, this soon turned into an opportunity to help our clients acquire their rented office.
We carried out a market rental appraisal of the site as they had a lease renewal approaching, which meant our client wanted to stay where they were. They wanted our help to negotiate the new lease terms, which included rent, rent-free incentives, break options and more.
It was also made known that the landlord would be open to selling them the property, therefore our market research also included market values as well as market rents. We were able to provide a comprehensive review and present to them their options.
Having been instructed to negotiate on their behalf on making an offer on the property, as well as presenting the landlord with their lease renewal terms as their second option, we were delighted to be able to agree to a sale with the landlord.
The acquisition involved further valuations, which were able to do, as well as corresponding with the solicitors moving the transaction forward. On completion, the client was now able to hold their offices as an asset, and not have to be paying out rent. They had a long term strategy for their business and we were pleased to be able to provide them with advice and guidance.
