Lease Flexibility - The Great Office Occupier & Developer Debate

The concept of 'flexibility' from a leasehold perspective can take many forms and within that there are degrees and differing perspectives. The coming years will see more flexibility within leases and/or licences and perhaps new arrangements that have yet to come to light. The future is unclear, but that will, inevitably, create opportunities and encourage change.

Occupiers will increasingly demand greater freedoms in their leases around their exits, expansion and contraction and the ability to temporarily share space with others. We foresee a relaxation of assignment, subletting and sharing rights for tenants, though how these will manifest remain uncertain at this stage. There should be lower thresholds to meet, and greater automation when it comes to such transactions. A lease should stipulate parameters that must be met and, if they are, that transaction should proceed without delay. In the case of sharing with other businesses, this should be viewed with less