If you're a business owner looking to relocate or expand your business with a new office, chances are London is near the top of your list, and with good reason too.
England's capital city is quite an attractive location for a number of reasons. London is vibrant and cosmopolitan, which is always beneficial for a cutting-edge business, and deciding to rent an office in London puts a large number of distinctive and business-focused areas at your disposal. There are many offices in the city based in areas which act as a hub for certain sectors - for example, Tech City in
East London is a thriving technology hub.
This factor is great for those start-ups looking to rent an office in London.
There are a number of things you need to keep in mind if you're negotiating a deal to rent an office in London though:
For example, you should know what the headline rent is. If you're not aware of this term, it is basically the rent figure that the renting party will have to pay until a review takes place - with discussion between the two parties - or, alternatively, until the lease ends.
When you decide to rent an office in London, you should also know that this term is often referred to as a passing rent.
Many businesses neglect to consider the fact that they might be obliged to pay service charges. Service charges are paid to the landlord so that they can ensure that the building is in a fit working condition.
So the service charge paid by businesses could be used by the landlord for maintenance purposes and repairs. It should be noted, though, that a landlord cannot profit from service charges.
It is also absolutely vital for businesses to check their lease length. It is one of the most basic points of any lease negotiation and therefore easy to complacently overlook.
It is important to remember that the length of the lease is at the discretion of the landlord - although it is also subject to the agreement with the tenant.
Whilst not by any means the only factors you'll need to take into account when negotiating a deal to rent an office in London, these factors are incredibly important. As with any negotiation, you should always carry out the necessary research before you agree to any deal.
Whilst this research may seem time consuming - especially if you're working to a particularly strict timeframe - you'll probably find that it's beneficial in the long run. It allows you to effectively negotiate a deal to rent an office in London with little trouble.
It's likely that you'll work with commercial property advisors over the course of your relocation, so much of the groundwork should be carried out by their team.
There is a huge amount of prestige to be had from renting an office in London, so why not benefit from this boost?
There are a huge amount of offices in London - catering to businesses of all sizes. This article highlights some of the things potential occupants should look out for when negotiating a deal to rent an office in London.