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Renting office space - what’s standard length of contract?

6 replies

another20 · 11/07/2019 18:20

New to this - just seen offices that would work. Previous occupant is the owner of the building. They want 5 years with a break clause after 3 years - is this relatively standard or not?

OP posts:
Ingurr · 11/07/2019 18:22

Our was 3 years with break clause at end of year 1 with 3 months notice.

Lwmommy · 11/07/2019 18:36

5 years with 3 year break is standard here, we were able to negotiate 3 year with 1 year break but it was hard going and required lots of assurance and a bigger fee if we break at 1 year than the 3 year.

From the landlords perspective they do fit out for the office which takes time and money, they want to see the return on that and not have to repeat it all the following year.

butterflycatcher · 11/07/2019 19:22

Not sure where this office is but 10 years with 5 year break is common in City of London.

another20 · 11/07/2019 21:51

Thanks really helpful - offices are in a small village on The Wirral. Looking to buy freehold premises so didn’t really want to rent for more than a year or two until something comes up.

OP posts:
Lwmommy · 11/07/2019 22:00

Have you looked at a managed service office like Business in a Box or Regis. Will be more expensive rent but you'll have the benefit of short term lease, already furnished with facilities and onsite support/internet connection/ phone lines etc.

Lwmommy · 11/07/2019 22:03

Like this www.portalbusinesscentres.co.uk/locations/the-wirral-serviced-offices/

That should have said Regus in the above post but autocorrect didn't like it

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