opportunities to reduce your occupational costs

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@TheBusJourney #SMEJourney The Business Journey Event No.5 7 May 2014

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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.

TRANSCRIPT

Page 1: Opportunities to reduce your occupational costs

@TheBusJourney #SMEJourney

The Business JourneyEvent No.57 May 2014

Page 2: Opportunities to reduce your occupational costs

@TheBusJourney #SMEJourney

The Business Journey Partners

Page 3: Opportunities to reduce your occupational costs

@TheBusJourney #SMEJourney

Martin Edgar

Page 4: Opportunities to reduce your occupational costs

Opportunities to reduce your occupational costs

Martin EdgarEdgar Property Solutions

Page 5: Opportunities to reduce your occupational costs

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

Page 6: Opportunities to reduce your occupational costs

The key elements

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

Page 7: Opportunities to reduce your occupational costs

Break Option & Lease Expiry

Page 8: Opportunities to reduce your occupational costs
Page 9: Opportunities to reduce your occupational costs

95 Bothwell Street, Glasgow

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

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

Page 10: Opportunities to reduce your occupational costs

Holyrood Park House, Edinburgh

Page 11: Opportunities to reduce your occupational costs

Trigger Notices

Page 12: Opportunities to reduce your occupational costs

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

Page 13: Opportunities to reduce your occupational costs

• 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

Page 14: Opportunities to reduce your occupational costs

@TheBusJourney #SMEJourney

Questions for Martin?

Page 15: Opportunities to reduce your occupational costs

@TheBusJourney #SMEJourney

The Business Journey Partners