New Lease Negotiation

We help clients find new office space by implementing our proven advisory process. This means you can sit back and let us deal with Agents and Lessors, to find the right space and negotiate the best deal on your behalf.

Our scope of services is as follows;

Stage 1

Identify and Understand the Critical Requirements

• Where relevant, review your current lease to determine your option to renew clause, any procedures and trigger clauses and review your make good obligation.
• Undertake initial space planning to confirm your space and layout requirements.
• Establish suitable locations, budgetary parameters, preferred commercial terms, business objectives and critical timeframes.
• Advise on market trends on favoured and comparable locations and building types.

Stage 2

Develop Your Brief to Market

• Prepare the Brief to Market based upon the parameters established above. This will be issued directly to all relevant market participants (landlords and agents), via an Expression of Interest Campaign.

Engage Your Current Landlord

• Open the communication channel with your current landlord to obtain the terms for your next lease to remain.

Issue Brief to Market

• The Brief to Market will be sent directly to all relevant market participants for them to submit their suitable premises options.

Develop a Preliminary Shortlist

• Based upon your requirements, compile and evaluate all options in the market.
• Provide initial recommendations on the most suitable options which meet your requirements.
• Produce a high-level review and analysis of the potential alternatives for review.

Review Options

• Discuss the various options received by providing advice on alternative buildings and services, landlord quality, asking rental levels etc. 
• Shortlist between 5 to 10 premises options as the best premises that suit your requirements. We always include your current premises and landlord (if the option to remain is possible).

Undertake Inspections of the Shortlisted Options

• Organise an inspection timetable to conduct site inspections for you to view and gauge the different premises options available with the view to order the shortlisted options from best to worst (or remove options which are determined as unsuitable).

Stage 3

Seek Lease Proposals

• Request the shortlisted landlords to provide a lease proposal which sets out the commercial terms to lease their respective premises.
• Where a landlord does not provide a lease proposal, Niche will determine the commercial terms to offer to the landlord to lease the premises. This is performed via a Request for Proposal (RFP). 

Analyse Offers

• Analyse the received proposals from both a qualitative and quantitative perspective based on commercial terms, market competitiveness, building criteria and financial analysis.

Negotiation Strategy

• Commence strong negotiations with the landlords (directly or via their agents) and develop ongoing strategies to maximise the best possible financial proposal.
• Provide advice on whether the proposals are competitive based on market experience and evidence.

Building Due Diligence

• Coordinate due diligence of the building and associated services for the premises being considered.
• Undertake test design fits (space plans) to ensure the premises suitability for your business.

Final Short Listing and Negotiations

• Negotiate by ensuring confidentiality is maintained on the preferred option.
• Negotiations will continue until the ultimate terms have been reached and your preferred option is determined.

Ongoing Advice, Financial Analysis and Reporting

• Provide you with regular advice and reporting throughout the negotiation process which includes updates on the financial position of each shortlisted option.
• Recommend when to finalise a transaction based on market intelligence and experience. This is to ensure the preferred option is secured to minimise the risk of another party leasing the premises.

Seek Client Approval

• Present findings and reports to seek direction on your preferred option and areas for further improvement.

Stage 4

Conclude Heads of Agreement of Preferred Option

• Upon your instructions, refine and finalise the preferred commercial lease terms.
• Organise the execution of the Heads of Agreement between the parties.

Stage 5

Commercial and Legal Review

• Monitor the legal review so that the lawyers finalise this process efficiently and effectively within a reasonable timeframe.
• Assist with any issues that require input from you or the landlord.

Finalise Lease Documentation

• Once the legal review has been completed, all lease documents will be in their executable form.

Assist all parties to have the lease documents executed and delivered to the landlord.

Let Niche take the stress out of finding and comparing property so you can get on with your business.

Contact Us now to discuss your options.

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