Over £70k saved negotiating a commercial lease

Over £70k saved negotiating a commercial lease

Whether renting office space or a number of buildings, when the time comes for an occupier to renegotiate its commercial lease, it can very often be beneficial to ask the commercial agent to be involved.

For example, our Stevenage office recently negotiated a revised rental deal on behalf of a client who occupied five units on an industrial estate off Gunnels Wood Road in Stevenage.

jim-wilcox-stevenageIn this instance, the landlord had proposed revised rentals totaling circa £450,000 per annum. Following a period of negotiation, a settlement was reached at circa £380,000 per annum.

Our client was delighted to make a substantial reduction of around 70,000 (around 16%) in their outgoings for all five properties.

If you would like assistance in negotiating a new commercial lease or renewal of your current terms, please get in touch with Jim Wilcock on 01438 794585.