There are plenty of opportunities in the present market for businesses to relocate to better premises.
It is all too easy to lose some of the advantages of any relocation through poor planning and failure to use professionals.
Barry Challender offers some tips for those thinking about relocation:
Do you have to move?
The mere threat of moving may be enough to enable you to negotiate better terms with your present landlord. It is a tenant’s market at present and landlords are anxious to retain and not lose tenants.
Beware of break clauses
You might be considering moving in the middle of your lease, if your lease gives you the right to bring it to an end early (breaking the lease). Please read our note on break clauses for more information but the key points are (a) to take early legal advice and (b) to ensure you do not miss the window for serving a break notice.
The hidden costs of moving
Any move no matter how well planned will lead to some down time for some of your staff. The costs of professionals and moving experts are easily budgeted for. What is often missed by tenants is the cost of putting their current premises into the state of repair and decoration that is required by their present landlord – dilapidation costs. For our overview on dilapidations please read this guide.
Any move needs careful consideration of the implications for your employees. It is possible that a move may cause redundancies. Advice on these issues ought to be part of any package of legal advice you receive on your move.
Further information and advice
For further information on all commercial property related matters please contact me by calling 0844 824 8744 or by completing the form below.