Commercial Tenant Services
Oxford Commercial property agent offering landlord and tenant services including rent review, lease re-gear, end of year dilapidations.
Commercial Tenant Services
Whether you already occupy a commercial property or are interested in renting or buying a commercial property in Oxford or the Thames Valley, we can help. From office spaces, industrial premises or retail spaces we'll find you the ideal leasehold or freehold commercial property.
NJC specialise in acquiring property for leasehold or freehold purposes and over the last 15 years we have helped many clients in Oxford and the Thames Valley.
Acting on behalf of tenants and buyers NJC manages the complexities of renting or buying commercial property, from the initial enquiry all the way through to completion including:
- Negotiating lease renewals and rent reviews
- Negotiating break-option-linked rent reviews and lease restructuring
- Identifying the most appropriate property for our clients needs
- Securing the most advantageous terms in the market
- Working with our partners to co-ordinate project management and fit-out works for the new property to ensure the optimum use of space
- Carrying out pre-contract building, air conditioning and passenger lift surveys
- Settling any end of lease matters such as dilapidations
- Carrying out business rates analysis and appeal/reduction services
- Undertaking service charge audits and reduction services
We provide expert advice throughout the search and acquisition process and will a tailored approach we deliver maximum efficiency for our clients.
Please get in touch if you would like to discuss your property requirements, whether you are a commercial tenant or are looking to buy or rent your first property.
Some of your questions answered...
What is a Rent Review?
A rent review allows the periodical adjustment of commercial rents to the market level current at the date of review. They take place at whatever intervals are agreed in the rent review clause(s) in the commercial lease and typically occur every three to five years.
Traditionally UK commercial leases were granted for 20 years or more, whereas now shorter leases of between 10 and 15 years are more popular with landlords and tenants.
The rent review clause sets out when each review will take place, the method of review, assumptions and disregards to be made when valuing the premises for the purpose of rent review, the procedure to be followed, and provisions for dealing with disputes if they arise.
NJC are experienced in dealing with often complex rent review negotiations on your behalf of both landlords and tenants.
What to do when you Commercial Lease comes to an end
When a commercial lease comes to an end, under the statutory rules laid down by the Landlord and Tenant Act 1954 Part 2, the business tenant has security of tenure – most tenants have an automatic right to renew on similar terms to the original lease.
However there are a few obscure exceptions and the landlord does have the right to refuse renewal, but only on very limited grounds.
NJC can advise you on the various lease renewal options open to you and the terms that can realistically be achieved.
What a Lease Re-Gear means
Re-gearing means replacing one lease with a new one, on renegotiated key terms. Re-gearing a lease can offer a potentially win-win opportunity for a landlord and a tenant to restructure the lease arrangement. Either party is free to do this at any time, and should aim to do so to their mutual advantage.
From a landlord's perspective, re-gearing is an opportunity to protect its investment and mitigate the risk of voids; while from a tenant's perspective, re-gearing can be a chance to manage costs and address occupational needs.