Expert Office Advice

Attempts to renegotiate a more favourable office lease instead of relocating are on the increase, a new survey shows.

According to a recent survey carried out by Savills, approximately half of office occupiers believe that one thing they can control in the current situation is business accommodation costs.

Just over 80 per cent of survey respondents preferred to reduce business costs by getting a better lease deal with the current landlord than relocating.

Some of the key points while renegotiating were lower rent, more flexible lease terms (40 per cent) and lowering the service charge (32 per cent). Others admitted their preferred method of cutting costs would be subleasing some of their office space.

According to Savills, the UK take up in the first half of 2009 was down by 46% compared to the first half of 2008.

The survey also revealed some interesting numbers, including the fact that 46 per cent of respondents preferred an in-town location, and 73 per cent opting for a new build property.