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Service · Commercial

Commercial property sourcing aligned with your investment criteria

Offices, shops, logistics and mixed-use buildings are mostly bought for the income from their occupiers and the prospects of the building once leases end. We source and review commercial property by looking first at who occupies it, on what terms, and for how long.

01

Occupancy

A schedule of tenants, often called a tenancy schedule, lists each occupier, the space they hold and the rent they pay. We ask for it early, together with any vacant space and how long it has been empty.

A fully let building and a partly vacant one can suit very different buyers, so occupancy is one of the first points tested against a brief.

02

Lease expiries and break rights

Every lease has an end date. Many also contain a break right, which allows the tenant or landlord to end the lease early on set dates. Both affect how secure the income is.

We ask the seller for expiry and break dates for each lease so a buyer can see when income might stop, rather than relying on a single headline figure.

03

Covenant evidence

In property, a tenant's covenant means its ability to keep paying the rent. Buyers usually want evidence, such as published accounts or guarantees, rather than a description.

We ask what the seller can share about each significant tenant and present it as supplied. Assessing a tenant's financial strength is a matter for the buyer and its advisers.

04

Repositioning potential

Some buyers look for buildings where refurbishment, re-letting or a change of use could change the building's role. Where the seller has explored ideas, we record them and the status of any studies or permissions.

Any potential is described as a possibility for the buyer's own advisers to examine, not as an expected outcome.

05

Lease length to expiry and to break

Two figures are often quoted for a building's income: the average remaining lease length to expiry, and the average remaining length to the first break. They are not interchangeable. Length to expiry assumes every tenant stays to the end of its lease; length to break shows how soon income could stop if break rights are used.

Tenant concentration matters alongside both: if one tenant pays most of the rent, its expiry or break date carries most of the risk. We ask for each lease's dates and rent so the buyer can see this clearly.

Questions buyers and owners ask

What is a tenancy schedule?

A list of each occupier, the space it holds, the rent it pays and its key lease dates. It is usually the first document needed to assess an income-producing building.

Why ask for break dates as well as expiry dates?

A break right can end a lease before its expiry. Looking only at expiry dates can overstate how secure the income is.

Do you assess tenant strength?

No. We pass on what the seller can share about tenants. Assessing a tenant's financial position is for the buyer and its advisers.

Can you source part-vacant buildings for repositioning?

Yes, if your brief covers them. Any repositioning potential is recorded as a possibility for your own advisers, not an expected outcome.

Start with the route that fits.

Buyers can set out their criteria; owners and authorised intermediaries can introduce a property in confidence. Either route begins with a review of initial fit.