In order to correctly understand what leasing options are available to occupiers in terms of either restructuring, re-gearing or relocating to new premises entirely, a detailed analysis of the conditions and restrictions surrounding their option(s) to determine (or ‘break’ as it is more simply known) their existing lease is needed.
This must look at and take in to account the notice period required to successfully serve a break notice on an existing landlord and what conditions are present within the existing lease that must be met, in order that the break notice is considered legally valid.
All too often, the analysis of the conditions and implications of an impending break option are simply not considered by occupiers until a time too close to a lease break. In many cases the opportunity to really take advantage of the situation is then lost. This is simply due to the amount of time needed to professionally address all of the many moving parts.
DeVono Cresa specialise in this area of lease analysis and we are very clear in our approach to this topic and what is needed for it to be carried out successfully and in the best interests of our clients. We are able to deliver the best possible advice (providing we are brought in early enough by our clients) at the time of the lease event because of our detailed and up to date knowledge of the following;
- Market conditions
- Anticipated trends
- Comparable evidence (up-to-date, actual and detailed)
- Development provisions
- Cost Analysis (re-gearing against moving)