focus on Reading 19 The paradox of thrift
The past four years have forced companies to look at reducing costs, and many occupiers will decide to undertake property negotiations for themselves, writes David Thomas, partner, Vail Williams LLP
But while saving on initial costs of occupier representation fees may appear substantial, subsequently finding out you have paid too much or have not protected your company’s position could be catastrophic. Your focus is running your business, something you are very good at and why your business is where it is today, so you might only move offices every three, five or 10 years. Ultimately you might only negotiate a new lease on your premises a few times in your business life – but a landlord’s primary business is property, and they are also likely to engage the services of an agent to act on their behalf.
So how do you even the playing field?
Crucially, engage the services of a qualified occupier representative – their business focus is acquiring property. We list below a few of the areas where experienced occupier
representation can save you money, gain value, add a competitive edge, and mitigate the impact of potential liabilities:
What is your business strategy?
This is the first question that should be asked so you can align your property requirements with your business requirements and ensure you are not taking a lease for longer than you are likely to require. It also ensures the premises projects the right image and offers the right environment for your staff to be productive.
Where do you need to be?
What is your optimum location for access by staff and customers? Do you need to locate near your suppliers, competitors or key transport hubs?
Why are you moving? You may not necessarily need to
relocate just because your lease is coming to an end and with clever negotiation you may actually be able to reduce your rent and obtain incentives for staying exactly where you are. You may also be able to improve your current working environment with the savings negotiated on your behalf.
When do you need to be operational?
The project management of a move can be problematic, but with the right advice you can avoid busy or business-critical periods, or be sure to be open for business for new product or service launches.
How much?
An insightful and experienced occupier representative can ensure not only that you are paying the right rent and obtaining the right level of incentives at the start of the lease, they can also protect your
PREMIER ROYALS
Do you want to promote your brand across the Thames Valley and beyond, to a truly engaged audience?
Recently promoted back to
the Barclays Premier League, Reading Football Club works closely with many businesses across the Thames Valley offering a wide range of sponsorship and advertising opportunities, as well as a wide range of matchday hospitality options. Austin Fraser, a local company based in Reading, specialise in recruitment to the IT, Engineering and Renewables industries. Employing around 60 people, the company is looking to build its brand throughout
the Thames Valley.
Austin Fraser has chosen Reading FC as an advertising partner for the 2012/13 season; with pitch-side advertising boards visible to up to 17,000 fans inside the stadium bowl. “We’re hoping that people see our brand at the stadium and when they think of recruitment companies we’re their first thought” said Peter Hart, Austin Fraser’s European Director. Austin Fraser has also
purchased an Executive Box for all home games this season,
to entertain family, colleagues and clients. After just three home matches this season, Peter already has fantastic reviews of their experiences at Madejski Stadium. “The box is brilliant for us to invite our clients to relax in a friendly environment and socialise.”
Peter also compared his experience at Reading FC to those he’s had elsewhere. “I’ve been to Emirates Stadium, Millennium Stadium and Old Trafford, the difference between
Reading Football Club would welcome the opportunity to discuss how we can support your business and help develop your brand. For an informal chat about the opportunities available, call Adam Benson on 0118 968 1484 or email
commercial@readingfc.co.uk
THE BUSINESS MAGAZINE – THAMES VALLEY – NOVEMBER 2012
www.businessmag.co.uk
those places and here is that you just feel like number at those grounds. At Reading there’s a desire to make it a special experience, the staff are always on hand to answer any questions, it’s a very personable atmosphere.” “Having a football team in the Premier League has really raised the bar of Reading as a town and a location people want to live and work in, and this stadium is the best in the Thames Valley without a doubt.”
position by ensuring the premises are measured; that you do not pay too much in service charges; and are not likely to be stung on a break clause riddled with conditions, or an unfair dilapidations claim. Your occupier representative can prepare detailed financial analysis to ensure you are choosing the right premises for the cost over the life of the lease. You are likely to more than recover your costs.
Many will be familiar with the old adage: “The lawyer who represents himself has a fool for a client.” This is not confined to the law but unfortunately also to the acquisition of property. If you want to be sure you are getting the right terms to protect your company and give yourself the competitive edge, how can you afford not to use an expert occupier representative?
Details: David Thomas 07815 071882
dthomas@vailwilliams.com www.vailwilliams.com
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