The Levy Group Blog

ByMartin Levy

Negotiate my own rent review? I’d rather pull my own teeth!

That’s a direct quote from one of my valued clients.

I’ve made the point previously that landlords (particularly in London) are becoming anxious to agree early settlements against a back-drop of increasingly static rents due in no small measure to the inexorable rise in business rates (aka local property taxes). Since open market lettings represent the best possible comparable evidence when it comes to negotiating rent reviews, it pays to look even more closely at the range of tempting tenant incentive packages when analysing the all-important headline rent.

We know all the tricks, after all, we play the market every day and have recently secured dramatically improved rent free periods, significant capital contributions from reluctant landlords and even ‘muscled’ annual tenant breaks on a 5 year lease for a US client right in the heart of fashionable Shoreditch and that’s a first even for us.

Even though commercial rent reviews are customarily ‘upward only’ we’ve also successfully negotiated ‘upward or downward’ patterns which is enormously helpful during today’s challenging business climate.

Since we’re completely tenant-centric, call my mobile on 07968 191 233 for a personal perspective and let’s create a winning platform for your upcoming rent review or lease renewal.

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ByMartin Levy

Where’s Hot and Not – Prime Central London Office Rents Q3 2017

Click below to view the latest Where’s Hot and Not.

 

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ByMartin Levy

What’s the real state of London offices? Who are you going to believe?

 

It seems everyone’s got an agenda to push.

If you listen to Colliers International you’d be hard pressed to disagree there had been a bounce back in take-up for prime central London offices during Q3/17, in fact they say a thumping 3 million sq ft – the fifth consecutive rise and the highest quarterly total in 18 months.

The UK referendum has definitely split opinion though you cannot alter the fact that big deals will skew the numbers – like Deutsche Bank’s 470,000 sq ft pre-let at LandSec’s 21 Moorfields.

But what about the rest of us mere mortals working in 5-15,000 sq ft space and often less ?

Well, I can tell you first hand that landlords are getting pretty anxious – I know this (a) from daily inspection tours where the sheer volume of available space (particularly in the City fringe) means I have been able to secure good quality refurbished space at under £50 per sq ft and (b) from the huge increase in invitations and breakfast launches.

On the flipside, comes news that around 75,000 UK jobs are at risk as 50 international banks are exploring post-Brexit relocation options of which 20 have already commenced the process of applying for a licence according to Daniele Nouy, head of supervision at the European Central Bank.

Frankfurt is the overwhelming favourite which I guess is not surprising as this is home to the ECB !

I can’t totally ignore the statistics but there’s more than one way to go so if you’d like to talk about creating a winning acquisition strategy that will have landlords and building owners competing for your business, call me on 07968 191 233 for a personal perspective on the benefits of transparent, objective and conflict-free representation.

ByMartin Levy

Where’s Hot and Not – Prime Central London Office Rents Q1 2017

Click below to view the latest Where’s Hot and Not.

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ByMartin Levy

No connectivity means you’re out of business!

I really like WiredScore … and you should too.

You already know that I’m strictly ‘tenant rep’ but that hasn’t stopped me from getting close to many of London’s major landlords.

Well, thanks to WiredScore, the recognised leader in digital connectivity I’ve successfully narrowed down our 18,000 sq ft search for a US law firm by focusing on a premium selection of City and West End Platinum and Gold certified buildings.

By eliminating the ‘no-hopers’ WiredScore has saved my client’s IT guys valuable time, money and a whole heap of frustration and enabled me to focus squarely on securing the best possible terms.

Go check them out at www.wiredscore.co.uk

Did I also mention that The Levy Group is proud to have been appointed by The Kingdom of Netherlands to acquire their new London Embassy and consular service ?

No ? Well, we’re looking to buy a 15,000-20,000 sq ft freehold property ideally in Kensington & Chelsea or the City of Westminster, though we’d consider Fitzrovia, Bloomsbury and Nine Elms too.

If you’d like to talk about creating a winning strategy that will have landlords and building owners competing for your business, call me on 07968 191 233 for a personal perspective on the benefits of transparent, objective and conflict-free representation.