Commercial Lease Advisory
Our role is to add value for both landlord and tenant in lease restructuring, re-gears, asset management initiatives, rent reviews and lease renewals by identifying and negotiating optimum terms. Thought is given to detailed drafting of lease provisions from the outset pays dividends on future rent reviews.
We provide investors with advice on how best to structure a lease on business premises to maximise the investment value. Whether it is increasing a guaranteed rental income stream, reducing residual lease obligations or negotiating rental uplifts, all these factors improve investor returns.
Conversely, we work with business occupiers in seeking to minimise leasehold liabilities. Accommodation costs represent a significant proportion of any business’ overhead. Mitigation of the rent burden assists occupier clients in protecting their “bottom line”.
We help occupiers align lease terms on individual properties with business objectives.
Retail Lease Advisory
bf provides a market leading lease advisory service ensuring that client portfolios perform at the optimum capacity.
Our Retail Lease Advisory team sit embedded within the Retail Agency team giving in depth knowledge of the market and access to extensive information on completed transactions and current availability. This provides us with unique insights into the factors that drive supply and demand in all locations.
We have a track record in strategic landlord and tenant roles providing innovative lateral thinking. Our specialists span high street, shopping centre and supermarket sectors with instructions ranging from major flagship stores to small shops across the entire UK.
Opportunities to restructure leases in current market condition has never been greater. Both retailers and investors are undertaking a much more detailed appraisal of leasehold liabilities. Retailers are looking to deliver savings across portfolios whilst investors are seeking to minimise void risk and maximise investment returns. All of this has resulted in a significant rise in restructuring activity.
We pride ourselves on the creation of solid, long term relationships built across our platform of clients, providing national coverage and local knowledge and offer a detailed understanding of the complexities of leases and property law, with extensive legal knowledge and contract negotiation skills, focused on risk management and driving cost efficiencies.
Arbitration & Expert Witness
There are occasions when two parties do not agree on matters that relate to property. Our Chartered Surveyors can represent both landlords and tenants, providing expert witness (written and/or oral) evidence to tribunals (arbitration and independent experts) in rental disputes.
We also have chartered surveyors on the RICS Panel of Arbitrators and Independent Experts capable of acting as the third party dispute resolver where landlord and tenant are unable to reach a negotiated settlement.
Rent Reviews & Lease Renewals
Our Lease Advisor surveyors are highly experienced negotiators, skilled in the third-party process, whether this is arbitration, independent expert or court proceedings.
We act for both landlords and tenants at lease renewal, including in the judicial process in England & Wales, giving expert advice on all main lease terms to align them with the client’s business objectives. We actively promote resolution of 1954 Landlord and Tenant Act lease renewals by PACT, a form of ADR, as a cost-effective alternative to litigation.
Our team includes chartered surveyors who sit on the RICS Panel of Arbitrators and Independent Experts, capable o f acting as the third-party dispute resolver where the landlord and tenant are unable to reach a negotiated settlement.
Lease Restructuring / Regearing
When the opportunity arises mid-term, we advise on restructuring leases with the aim of enhancing the value of either parties’ interests in a changing business environment, through a combination of extending leases, changing rents, negotiating rent free periods or contributions towards refitting.