Services: Property Exit Strategy
When You Need an Exit Strategy from Your Commercial Property
Whatever the reason for your move, one of the considerations has to be what is going to happen to your existing commercial property. Do you own your own commercial property or do you hold a lease?
Your decision making process will need to encompass a number of areas, for example;
If you are relocating your business from a leasehold property, you will, amongst other things, need to consider;
- What date your commercial lease comes to an end
- Whether there is a break clause that might allow an earlier exit and if there is what the notice period and conditional upon anything
- If you are part way through your commercial lease, does the lease allow for the sub-letting or assignment of the lease?
- If your lease is ending, what are your obligations to repair the property (referred to as dilapidations)?
These are some of the elements that have been known to increase the costs of a move dramatically and in some cases make relocation unviable. Which is why, Talkspace will guide you through all the major decisions you have to make to minimise your liability and costs of exit.