Director Tom Holloway and Associate Director Craig Powell of Holloway Iliffe & Mitchell have been quoted in the latest issue of the RICS UK Commercial Market Survey (Q3 2012). This publication is widely read by commercial property investors and occupiers looking to gain an insight into the regional views of RICS Commercial Property Chartered Surveyors in their local region.
Tom Holloway, Holloway Iliffe & Mitchell (Portsmouth) said:
“Stagnating market is helping tenants renegotiate at break clauses and lease renewal, leaving many landlords with weakened investments. This is creating a generally negative vibe throughout the market.”
Craig Powell BSc (Hons) MRICS, Holloway Iliffe & Mitchell commented:
“Tenants are taking advantage of lease breaks and expiry in order to negotiate hard with landlords. These occupiers often achieve incentives at lease renewal that would normally have only been available to new businesses relocating. We are also seeing tenants relocating to properties with better transport links or a higher specification for the same annual rent as they are paying for an inferior building.”
For more information about the RICS UK Commercial Market Survey and to download the latest copy please visit http://www.rics.org/Global/RICS
