Shorter, faster, better, stronger – Andrew Crabbie speaks to IREI
Partner and Head of Commercial Real Estate, Andrew Crabbie, has featured in Institutional Real Estate, Inc.'s latest piece on how an increase in flexible leases will drive up innovation, rental income and standards across every conceivable metric.
Due to the disruptive and unpredictable nature of the last 25 years, almost all industries have been gripped by a continuous sense of uncertainty.
In relation to real estate, one trend to come from this is the movement towards shorter and more flexible tenancy agreements. Crabbie explains that due to this desire for flexible tenancies (primarily from SMEs), landlords have increased the amount of turnkey space they offer.
“Increasingly, landlords are providing letting deals where the landlord is doing the basic finishing works to the building – and the full cat-b fit-out. So the tenant just walks in. This is 100 percent in line with the tenant requirement for flexibility and the need to transact swiftly.”
The article goes on to clarify how landlords enabling a “plug-in-and-play” solution to tenants also benefits them, allowing them to charge higher rent in exchange for immediate occupancies and landlord responsibility for dilapidations at the end of the tenancy.