I've literately started 2024 to a racing start! And got 3 penalty points for it too! 🥺
We have completed leases in Chandlers Ford, Rochdale, Norwich and IOW...
We are in solicitor on 8 locations...
We are in negotiations on 9 locations...
We have 7 live acquisitions...
We've done over 1,500 miles across the UK, North, East, South, West and it is only 6 February. 🌍
We are tasked to find needle in a haystack for our clients. Businesses who are growing or consolidating their business are making sure the real estate is aligning with their business objective.
Commercial Property Acquisitions are getting much harder, because of green lease requirements.
Key Challenges:
- Most new industrial units don't have gas supply and businesses are expected to run everything off electric. This is more expensive for business and even for businesses that don't have a huge electricity supply, some of the electric heaters and EV charging points are wiping out the electricity capacity. And the worst bit, is that there isn't enough in the grid or the connection is months, even years!
- Random planning conditions attached. You can have B2 use (General Industrial), but restrictions on power tools. Noise & odour reports are becoming more requested.
- EPC - Green leases are trying to hook businesses to uphold the rating at the time of occupation. ie B rating. However, businesses are taking a 10 year commitment, who knows how the rating assessment will evolve during that time.
- Rents - Ignore the media. Rents in the region have almost doubled in 5 years. We are undertaking a number of rent reviews and lease renewals and the lack of supply for quality properties is pushing rents more than anticipated.
We are guiding our clients through the lease negotiations, so they can concentrate on their day to day running of the business.
I don't proclaim to be a doctor, a solicitor, a car repairer, an insurer, a dance school, a tech company...
So they appoint us to do what we do best and that's negotiate lease terms on their behalf.
Check out my review section, if you want to know why some of our clients have appointed us. 👇
Here, is to continual growth to our clients and Omega RE | Certified B Corp Ed Roberts Jonathan Trice & no more penalty points!!! ⛔
#tenantrepresentation #businessacquisition #growth
Luxury Commercial Agent | Douglas Elliman Real Estate
1moCongratulations all!