ABSTRACT

One of the most significant single event a business faces is relocation into new premises. Not only does the process itself dominate during the acquisition and relocation period, but the premises chosen and transaction structure negotiated will have a significant impact on business efficiency and profitability in both the short and long term. Yet, often the business manager has little experience in the area and is illequipped to manage the process effectively. The acquisition process can be complex and requires skills and knowledge in areas such as business planning, finance, law, accounting and negotiation. This chapter aims to provide an appreciation of how to manage the process to achieve the best possible transaction to meet the ongoing needs of the business. The information and advice contained in the chapter provide the occupier with a foundation for identifying requirements, managing advisers, and negotiating the transaction with an informed and controlled approach. You should also obtain a copy of Commercial Property Leases: Code of Practice, listed under Further Reading. This is an important document containing both useful information and guidance on recommended practice. You should familiarize yourself with the contents before embarking on an acquisition project.