The current pandemic has hit numerous Sydney businesses, hard.
Reducing staff numbers is becoming unavoidable for many organisations in and around Sydney CBD. Unfortunately, this is often leaving businesses with too much office space.
That excess space is now becoming a drain on the financial resources of numerous companies, which simply isn’t sustainable in the current climate.
Therefore, businesses must come up with a solution to this dilemma. For some, the only option is downsizing the commercial space.
Unfortunately, though, due to the careful restrictions that most commercial leases have, it can be very difficult to break your lease without a large financial hit.
This is where we can help you negotiate an acceptable result for both your business and your landlord, when surrendering your commercial lease prematurely.
Commercial lease surrender can be very difficult to approach, so it’s essential that you have Niche Advisory on your side.
Identifying Your Situation
First of all, it’s important to take your situation into careful consideration.
How many staff have you laid off, or how many do you now have working remotely? Moreover, will your remote staff need to come back into the office when business returns to normal, or can you approach the work in a different way?
This is what we’re here for. We can help you work out how much office space you need right now, as well as how much you require going forward.
Our wealth of knowledge and experience in this field means we’re fully equipped to help you through these times and understand that each situation can be unique. We’ll then advise you on the best action to take.
If it’s time to downsize but you still have plenty of time left on your commercial lease, we can help you navigate the issue of breaking your lease, which can become extremely stressful and expensive.
At Niche Advisory, we’ll help you get the best result possible.
Approaching Your Landlord
Once you decide that the best action to take is to downsize your office space, you’ll need to approach your landlord or leasing agent about a lease surrender.
To break a commercial lease, you’ll usually be liable for the entire remaining amount on the lease, which can be a huge hit to any business.
Therefore, it’s essential to bring in a professional tenant advisory to help you negotiate a surrender for your Sydney commercial lease.
We can help you get the best result for your business, meaning you pay less, and save time and stress throughout the lease surrender process.
To discuss your Sydney commercial lease surrender, get in touch with Niche Advisory here.
