Opportunities to reduce your occupational costs

@TheBusJourney #SMEJourney

The Business JourneyEvent No.57 May 2014

@TheBusJourney #SMEJourney

The Business Journey Partners

@TheBusJourney #SMEJourney

Martin Edgar

Opportunities to reduce your occupational costs

Martin EdgarEdgar Property Solutions

“Even the best hotels don’t want empty rooms”

The key elements

• Rent review • Service charge• Rates• CVA (company voluntary agreement)• Break options / lease expiry

Break Option & Lease Expiry

95 Bothwell Street, Glasgow

• “Did they have any intention of triggering the break option?”

• “Was this a good deal for the landlord?”

Holyrood Park House, Edinburgh

Trigger Notices

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

• 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

@TheBusJourney #SMEJourney

Questions for Martin?

@TheBusJourney #SMEJourney

The Business Journey Partners