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Development Leasing (Beta M'App) - see Development M'App for other…
Development Leasing (Beta M'App) - see Development M'App for other Development issues
2. Process for agreeing terms
[Structured tender process]
1. Are there any issues to address before you start
[1. Do you need a board decision]
[2. Specify anything in notes]
2. How would you negotiate
[3. Will you go straight to legals and skip heads of terms?]
1. Will you formally request proposals (RFP)?
[Marked up RFP]
[Heads of terms]
[Number of stages]
[Competition (for scoring transparency etc.]
2. Will you go straight to heads of terms?
[1. Will you negotiate most of the heads and then go to legals?]
[2. Will you negotiate all of the heads and start the legals?]
[3. Will you negotiate the legals at the same time as the heads?]
[4. Specify anything else in notes]
4. Space issues
1. What type of space
[1. Are you taking all of the building]
[2. Are you taking part of the building]
2. Naming the space
[1. Will the Tenant have naming rights?]
[2. Will the Landlord have naming rights?]
[3. Will neither party have naming rights?]
4. Must both parties collaborate to name the building
[1. Must the decision be made before the start of the lease]
[2. Must the decision be made after the lease starts]
5. Are there any constraints on the name?
[1. Does the fire service have the final say?]
[2. Does Royal Mail have the final say?]
[3. Is there any issue around advertising?]
3. Taking more space
[1. Can you elect to take more space before practical completion]
[2. Can you elect to take more space after practical completion]
4. Taking less space
[1. Can you elect to take less space before practical completion]
[2. Can you elect to take less space after practical completion]
5. Accesses to the building
[1. Do you have your own access]
[2. Is your access multi-tenanted]
6. Receptions
[2. Multi-tenant desks operated by Tenant]
[3. Multi-tenant desk operated by Landlord]
[4. Reception protocol]
1. Sole desks
[1. as long as a substantial occupier]
[2. regardless of occupation size]
7. Staircases
[4. Technical issues in a staircase protocol]
1. Who pays
1. for accommodating them
[1. Developer/Landlord]
[2. Tenant]
2. for installing them
[1. Developer/Landlord]
[2. Tenant]
2. Where are they going
[1. Pre-determined holes]
[2. Holes in an area]
3. When must the decision be made to install them
[1. Calendar date]
[2. A point in time in the program]
8. Entrances
[1. Sole entrance]
[2. Multi-tenant entrance]
[3. Entrance protocol]
1. Are there any pre-deal issues to consider?
[1. For the Landlord]
2. For the Tenant
1. Considerations for the property
[1. Must you own/control the building]
[2. Must you control the estate/campus?]
2. Considerations for your neighbours
[1. Must you control your neighbours]
[2. Must you be able to influence who your neighbours are]
3. Considerations for the surrounding area
[1. Transport]
[2. The neighbourhood]
[3. Specify anything else in notes]
5. Freehold/leasehold
1. Should the Tenant take a freehold?
1. Freehold
5. What funding options does the business have?
[2. Equity]
[1. Debt]
[3. Grants]
[5. Specify any other funding options in notes]
4. Land tax benefits
[1. SDLT]
[2. VAT]
[3. Specify other in notes]
2. Control
[1. Do you need more control over your Landlord]
[2. Do you need more control over your space]
3. Future flexibility
[1. Freehold allows for a later sale]
[2. Freehold allows for a later sale and leaseback]
1. Accounting issues
[1. Is a freehold better for you]
[2. Is a leasehold better for you]
[3. Are they neutral]
4. Is there a particular reason for freehold
[1. Spare cash in the business]
[2. Other reasons]
2. Should the Tenant take a leasehold?
2. Leasehold
3. Right to stay at the Premises
[2. Rely on Statutory renewal rights]
1. Contractual right to renew the Lease
[1.Paywall]
2. Rights to buy/pre-empt Landlord sales
[1.Paywall]
1. Flexibility within the Lease
[Assign]
[Share occupation]
[Underlet]
[Break clauses]
4. Financial implications
[1. Revenue accounting]
[2. Not capital]
2. Flexibility and the structure of the Lease
[Floor by floor]
[One Lease of the whole]
3. Parties
1. Contracting parties
[3. Funder]
1. Landlord/Developer
2. Changes to the Landlord/Developer
[Corporate change of control]
Disposing/dealing with the agreement
Intragroup
[With consent]
[Without consent]
[Equivalence test]
[Other test]
Outside the group
[Prohibited]
[Prohibited until after PC]
[Allowed with reasonable consent]
[Equivalence test]
[Named tenant to take up the lease]
Types of disposal/dealing
[Assign]
[Declare a trust]
[Mortgage/charge]
[Sell]
[Grant a lease]
[Part with]
1. Original Landlord/Developer
[1. Is the Landlord ok on its own?]
2. If not ok
[1. Guarantor]
[2. Other security?]
2. Tenant
[2. Changes to the Tenant]
1. Original Tenant
[1. Is the Tenant ok on its own]
2. Does it need security
[1. Guarantor for the Tenant]
[2. Other security for the Tenant]
2. Other parties
[1. Planning authority]
[2. Grant authority]
[3. Specify any other relevant parties in notes]