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Landlords ' your flexible friends?

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31st Jan 2006
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Corporate landlords are offering more flexible lease terms in a bid to help meet their tenants' business needs, says a new survey.

The survey, carried out by the CBI and property advisors GVA Grimley, questioned corporate occupiers on the extent to which their property meets the demands of modern business. The results are given in a report entitled Commercial Property ' Meeting the Needs of Business.

The results indicate that landlords have become more willing to align lease terms with business needs. Only 11% of respondents thought that landlords are not willing to offer flexible lease terms, compared with almost a third (32%) who believed this to be the case five years ago.

GVA Grimley's national head of research Stuart Morley said: "This is positive news for the property industry, as it indicates that landlords are becoming increasingly flexible in the terms that they offer to tenants. Lease terms should be agreed as the result of negotiation, and should therefore balance the needs of the landlord and tenant."

The survey also asked respondents to rate the importance of a range of factors in their decision to occupy a particular property. The ability of a building to support core business operations, cost factors, workplace efficiency and effectiveness and impact on presentation/brand reputation were all considered key factors.

Other important considerations were access to workforce, public transport links and car parking facilities. IT capabilities were ranked as important as occupying an energy efficient building.

Respondents cited the main barriers to getting the most from their property as planning constraints, regulations and compliance were considered the most important factors.

Tony Joyce, office partner from GVA Grimley's City office, said: "Landlords are increasingly becoming more sophisticated in their relationships with tenants.

"Unlike five or even ten years ago, landlords are making a long-term play for tenants, they understand the importance of partnership with their occupiers and regularly canvass their tenants' views in order to provide an ever-improving level of service and relationship."

To see a copy of the report click here

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