Opportunities to reduce your occupational costs

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Maintaining close control of business costs is an important role for all business owners. Unfortunately, many find themselves too busy with the daily pressures of running a business to take time out to plan their future occupational needs and consequently fail to identify opportunities to reduce occupational costs.

Martin will highlight the four main components that influence total occupancy costs – concentrating on break options and lease expires.

Having acted on behalf of both landlords and tenants for many years, Martin will share with you his insight into the landlord’s decision making process to maximise occupancy levels, rental income and capital values. Understanding how the landlord manages his property portfolio will greatly improve your ability to secure the best possible occupational savings.

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Opportunities to reduce your occupational costs

  1. 1. @TheBusJourney #SMEJourney The BusinessJourney Event No.5 7 May 2014
  2. 2. @TheBusJourney #SMEJourney The Business Journey Partners
  3. 3. @TheBusJourney #SMEJourney Martin Edgar
  4. 4. Opportunities to reduce your occupational costs Martin Edgar Edgar Property Solutions
  5. 5. “Even the best hotels don’t want empty rooms”
  6. 6. The key elements • Rent review • Service charge • Rates • CVA (company voluntary agreement) • Break options / lease expiry
  7. 7. Break Option & Lease Expiry
  8. 8. 95 Bothwell Street, Glasgow • “Did they have any intention of triggering the break option?” • “Was this a good deal for the landlord?”
  9. 9. Holyrood Park House, Edinburgh
  10. 10. Trigger Notices
  11. 11. Remember Important Dates • “Dates are best retained by connecting them with important dates already firmly established in the mind” Dale Carnegie Cigarette advertising is banned in the UK – 31st July 1965 British Army leaves Northern Ireland – 31st July 2007 Mick Jagger and Keith Richards end one month jail sentence – 31st July 1967
  12. 12. • Take time out to plan ahead • Acting well in advance of lease event will save you money • Leaving it too late will weaken your negotiating position
  13. 13. @TheBusJourney #SMEJourney Questions for Martin?
  14. 14. @TheBusJourney #SMEJourney The Business Journey Partners

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