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Length of Lease
A lease is a legally binding contract between a landlord and a
tenant which sets out the basis on which the tenant is permitted
to occupy a property.
The length of the term will vary depending upon the particular
requirements of the landlord and the tenant and will be influenced
by business requirements, investment strategy and general
matters such as economic conditions.
In broad terms, the landlord will often seek to create a
lease of between 15-25 years, whereas the tenant is more likely
to require a shorter term of 5-10 years, particularly in times
of economic and political uncertainty.
The lease length may also be influenced by the incidence
of break clauses and the prospect of a formal option that
might exist to extend the lease upon expiry.
Large properties, or those involving the tenant in significant
investment in fit out costs, might attract longer leases in
order to allow sufficient time for the tenant to recoup the
initial costs of taking on the property.
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Before you go office
hunting, make sure you have defined your space needs and service
priorities. Global Office Search can help you determine your
exact space requirements, locate the commercial properties that
best fit and help you negotiate favourable terms. |
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Global Office Search
Global Office Search
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| Global Office Search can provide
in-depth knowledge. |
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| Insight on the potential
for buying, selling or leasing offices and commercial
property and land in London and throughout the UK. |
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| We specialise in offices, with or without
warehouse, distribution or industrial space, and we represent
many owners, occupiers, developers and investors across the
country. |
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| As part of your office relocation
process, we offer an informal meeting to assess the realistic
options of selling or letting existing commercial property
or finding more suitable alternatives. |
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| We make our recommendations
but you decide what happens next. |
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