Owen Spencer writes for CoStar on the hidden strain of return-to-office
As organisations grapple with their return-to-office, Owen Spencer, a specialist lawyer in our Corporate Occupiers and Tenants team, has written an article for CoStar looking at how office occupiers can protect against outgrowing their space.
Anticipating real estate needs over 5-10 years can be challenging, so ensuring that there’s options for growth is prudent. Owen sets out some options available, weighing up the benefits and pitfalls with each, including:
- pre-emption rights – both contraction and expansion options during a pre-let period and long-term rights of first offer and refusal
- alienation – taking more space than you initially need and entering into a day-one sub-lease
- alterations flexibility – having enough latitude to make changes to use the space more efficiently
- building selection – taking space in a building with flex offering
Read the full article (paywall), or get in touch with our team if you’d like to discuss your options.
