Retail Lease Renewal

Store-by-store strategy

Before negotiating, each unit needs a position: renew at any sensible rent, renew only below a threshold, renew short with a break, or exit. Setting that internally first — and holding to it — is what produces the savings. Across recent portfolios this approach has taken more than £6m out of retail rents in five years.

What to push for beyond rent

• Shorter term with a tenant-only break
• Capped or excluded service charge, particularly on scheme marketing
• Schedule of condition to limit terminal dilapidations
• Rent free reflecting the true incentive market, not a token month
• Flexible alienation for future disposal

Leverage on the high street

Vacancy, rental auctions, landlord void costs and business rates liability on empty units all sit on the landlord's side of the ledger. Knowing what a void actually costs your landlord is often more persuasive than another comparable.