Experienced Office Law Solicitors
With the changing work environment, is it still a good idea to buy an office? At OGR Stock Denton, we believe that all businesses have the right to make their own decisions based on their requirements and ambitions. And if you’re planning for the long term, buying an office can be a sound financial move.
Real estate is always a great investment. It gives you a solid asset that will grow in value over time. With the potential to rent it out to earn an additional revenue stream, commercial property is still a big favourite with portfolio managers, investment experts and capital providers.
To make an appointment to discuss any aspect of Office Property please email or call on 020 8349 0321.
Guiding you through
Commercial Leases for Office Space
Need Advice?
Matters we advise on for our office property law clients include:
- Acquisitions
- Disposals
- Leases
- Management of office property portfolios
Other aspects of commercial property law covered by OGR Stock Denton solicitors:
Our Legal Team
The Pros and Cons of Buying Commercial Office Space
If your business is growing, buying your own office will give you complete control over how your business. It will also give you that all-important asset that can be used against future secured lending financial deals. There are other advantages, including:
- You also don’t have the restrictions of a tenancy agreement to stop you from remodelling or upgrading your office
- If you buy a property in an ‘up and coming’ area, that asset will quickly increase in value. If you decide to sell the building, the return could be considerable.
- You can rent out your property if your business outgrows the office space or your business model changes. The extra income it generates can then be put back into your business.
However, there are some provisos:
- If you buy space in a shared building, you may be restricted as to what you can do with that office. There may also be additional costs, such as building maintenance costs.
- That initial investment will be considerable. Is your business in a position to finance such a significant capital investment, or will it leave your bottom line depleted?
If your predictions are good and you’re confident that the business will expand, the risk may be worthwhile.
What About Leaseholds?
Leaseholds are generally cheaper than freehold purchases, but they only run for a fixed time. Once the lease is up, you’ll need to renegotiate an extension or vacate the premises. That’s a considerable risk to take, especially for young businesses. And while the initial capital investment is lower, the costs can mount up when it comes around to renegotiating the new lease.
Subletting – Becoming a Landlord
Buying your own office space does give you the option of subletting. However, as a landlord, you’ll be taking on a whole new raft of responsibilities that could constrain your business ambitions. Do you want to run your business or be a landlord? While the two are not mutually exclusive, they can be challenging to combine.
OGR Stock Denton’s property law specialists will be able to provide you with the advice you need if you’re thinking about subletting.
Why Buy When You Can Rent?
With all of these potential issues, you may wonder why buy when you can rent? Buying gives you:
- Greater flexibility
- The chance to earn extra income by letting the office space out to a tenant
- A solid business asset that can act as a guarantee against secured loans
- Client confidence – a business that owns its own office will be seen as stable, reliable and trustworthy
However, renting gives you:
- Lower initial capital investment
- The opportunity to move into more appropriate premises as the business grows or changes
- The opportunity to take advantage of special deals such as rent-free periods, especially in regeneration areas
- The chance to renegotiate rental agreements
Office Property Services From OGR Stock Denton
With a wealth of experience in commercial property sales, OGR Stock Denton is your go-to team for legal services. Whether you’re buying or renting, our solicitors are here to help you navigate your way through the negotiations, contract agreements and conveyancing.
Our experienced team is constantly expanding their skills through continual personal development and best-practice to bring you a comprehensive service from initial inquiry to completion.
If you’re thinking about buying offices either as an investment or to help your business grow, our office solicitors will provide you with jargon-free, no-nonsense legal services. Call us today on 020 8346 0321. Or use our online contact form to get in touch, and our team will get back to you.
Acted for Lyst in office relocation in excess of 20,000sq feet in Old Street – tech city
Acted for Depop in office relocation in excess of 10,000sq feet in Old Street – tech city
Acted for Gaming Realms in office relocation in excess of 5,000sq feet
To find out how we can assist you, please speak to one of our tech expert’s today.
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What Our Clients Say
“Winston Kan & Michael Stock of OGR Stock Denton LLP have been a great support throughout the process and Winston has demonstrated the highest levels of professionalism and genuine care throughout this difficult process. I highly recommend these lawyers, they are very attentive and honourable.” – Aziza
“ We completed our home move in June, beating the Stamp Duty deadline by 4 days, and were extremely satisfied with the way the whole selling and buying process was handled by Robert Rosenberg. He was super efficient and communicated with us constantly throughout the process. We highly recommend him. and OHR Stock Denton, to anyone looking for a painless and stress-free experience. ” – Colin
“All round brilliant team at OGR. After being badly let down by another solicitor, Priti Shah sorted our parents’ probates quickly and efficiently. She is very knowledgeable and on the ball and structured things in such a way she saved us lots of money. We also had conveyancing done by Ben Menaham which was smooth and hassle free and overseen by Michael Stock. Thank you.” – Monica
“I must thank you Ian, and Stephen, for your professionalism though the complex and protracted negotiations and for the support, understanding and patience you have shown me personally throughout.” – Malcolm
“I would like to say a huge thank you to Winston Kan of OGR Stock Denton LLP for the outstanding work he did on my car accident case. He supported me and my family through the long and exhausting process. There were times when I was ready to give up but he patiently and supportively guided me all the way. All the best wishes from me and my family.” – Hana
“A big thank you to Susan Bernstein for her help and support during my redundancy process, you made the legal part stress free and easy to follow. I fully trust your work and will recommend your services in the future.” – Meital
“I called you with a difficult situation and within 30 minutes you had addressed the main issue and very clinically identified what needed to be done. Your attention to detail and your work approach are of such a high standard that i have no doubt whatsoever that any client you deal with will only have good things to say. You are a true ambassador to your firm and your profession, with the care you show and advice you give. I would like to thank you again for the wonderful job you did at such short notice and i have no hesitation in using your services again and recommending your firm.” – Meir
“I owe you a great debt of gratitude for the kind, helpful, empathic way you dealt with me and went about your business at a time in my life when I was suffering huge emotional pain. I did not really understand what was happening to me but you did, and your advice was invaluable”. – Stephen Wiser
