Do you have a Bath office rent review coming up ?
Back in 2014 it was not unusual to agree office lease terms at £10-£12psf with rent-free periods and capital contributions on a property in central Bath.
Agents acting for landlords will say that rents have risen massively over the last 5 years in large part due to the lack of supply.
It is true that Bath agents are achieving headline rents of £22-£27per square foot on space that was leased at half that 5 years ago. But this does not necessarily mean that your bath office rent review should double.
Your office and lease terms will likely be different to “comparables”.
Agents talk about headline rents but it’s the adjusted net effective rents, and hypothetical review and lease terms that count.
My advice? Pay a professional to handle the review for you. They can advise on what the current market value is and on strategies to keep your costs down.