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.