As an occupier, you are fully responsible for your commercial lease, for the full length of the term. Therefore, if you wish to exit the premises before this date, you are responsible for the disposal of the space.

We specialise in the disposal of occupier space which differs significantly from disposing of a landlord space. While a landlord can afford to wait months or often even years before letting a commercial space, for an occupier wishing to move out, it is a diminishing asset.

Therefore the importance of striking the right balance between reducing financial liabilities, achieving the right level of rent and an agreeable time frame, is paramount.

Occupier disposals fall into three categories, disposal by Sub-lease, Assignment and Surrender.

Sub-lease 

With a sub-lease you will essentially become the incoming tenant’s landlord and will need to manage the quarterly rental payments and deal with any building-related issues, in the first instance.

Assignment 

If you assign your existing lease, an incoming tenant will take over the full liability of the lease, including paying  the current rent and taking on the responsibility for dilapidations.

Surrender

The landlord may agree to take back the space immediately, either for a cash settlement in lieu of loss of rent, or if it is otherwise financially beneficial for them to do so. Alternatively, you can find a new occupier for the space and if the landlord grants a surrender of the lease, they can simultaneously issue a new lease for the new tenant.

We will advise you on the best route out of your current commercial lease and then act as your agent in the disposal of the property.

View our current disposal properties.

There are several ways in which a commercial occupier can litigate their leasing obligations.
Your lease is a diminishing asset, meaning the longer it goes on, the less valuable it becomes. Therefore it is imperative that your property advisor uses their best endeavours to dispose of that lease in the shortest time possible and at the correct financial levels. 
There are three ways for this process to take place
Sub-lease
A sub-lease is the transfer of a property interest, but on terms that do not have to 100% reflect the existing lease, provided they do not breach the existing lease. i.e. the rent can be more or less, depending on market conditions. You can sub-let up to any break or expiry (i.e. the shortest possible term), enabling you to exit your liability in the shortest possible time.
Assignment
An assignment is the complete transfer of the remainder of the interest to the assignee / new occupier. The original rent remains the same, regardless of the current market conditions, and this is for the whole lease, regardless of any break clauses.
Surrender
Where the existing tenant comes to an agreement with the Landlord to end the current lease and for the landlord to grant a new lease to a new tenant. Landlords are unlikely to grant a surrender if a new tenant is not lined up unless they have specific plans for their property such as a refurbishment, redevelopment or expectations that they could achieve a higher rental value. 
Our dedicated team of research analysts will take you through the necessary steps involved in making this process successful by DeVono Cresa marketing your commercial real estate space  via our team of in house Surveyors. 
Once instructed DeVono Cresa use their extensive in house marketing team who use all the modern and traditional tools that will enable us to interact in different circles to the range of property agents and direct to occupiers. This market coverage is far superior to our competitors as we pro-actively approach the exact type of companies that can often be unrepresented and therefore harder to discover unless approached. 

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