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The Changing Pattern of Commercial Lease Terms: Evidence from Birmingham, London, Manchester and Belfast

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Hamilton, M, Lim, LC and McCluskey, WJ (2006) The Changing Pattern of Commercial Lease Terms: Evidence from Birmingham, London, Manchester and Belfast. Property Management, 24 (1). pp. 31-46. [Journal article]

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URL: http://www.emeraldinsight.com/0263-7472.htm

DOI: 10.1108/02637470610643100

Abstract

Purpose– This paper aims to contribute to the theory, practice and development trends in relation to commercial property leases. Design/methodology/approach– The paper utilises three key methodological approaches to the research, namely, case studies, desktop literature review and questionnaire survey analysis. This approach enables the in-depth analysis of both primary and secondary data in relation to the wider commercial property leasing market. Findings – The main findings from an analysis of the case study cities demonstrate clearly that office tenants are requiring shorter lease terms, more tenant break options and rent reviews to market value. Research limitations/implications – The paper relates to the development of commercial property leases. While the research inferences are drawn from four major cities they would nonetheless represent a similar pattern from across the UK. Practical implications – The findings of this paper should be of practical benefit to those involved in the drafting of commercial leases and in particular the management and leasing of commercial property.

Item Type:Journal article
Keywords:Property, Leasing, Office buildings, Rents, United Kingdom
Faculties and Schools:Faculty of Art, Design and the Built Environment
Faculty of Art, Design and the Built Environment > School of the Built Environment
Research Institutes and Groups:Built Environment Research Institute
Built Environment Research Institute > Centre for Research on Property and Planning (RPP)
ID Code:12443
Deposited By:Dr Jasmine Lay-Cheng Lim
Deposited On:22 Mar 2010 12:04
Last Modified:22 Mar 2010 12:04

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