Landlord satisfaction rates at 66% for businesses

According to the latest survey by law firm Irwin Mitchell, the majority of businesses in the region feel that landlords offer sufficient flexibility to occupiers.

Amongst only 19% of respondents that indicated that landlords still needed to deliver more, shorter leases and flexible break clauses were the most sought after.

Location remained the most important factor for businesses when choosing premises, with 52% rating this first. This was followed by cost at 23% and then workforce accessibility at 5%.

Around 80% of businesses in the region expressed that they were satisfied with their current location, saying they intend to stay in the same premises in the next 12 months, with just 9.5% planning to relocate or take on more space.

The survey queried attitudes to online working practices with 23% considering that this will result in businesses requiring less office space in the future, while 52% thought their requirements would stay reasonably the same.

In terms of energy efficiency, although this was not one of the leading considerations for businesses choosing premises, 76% of businesses said they did think improving energy efficiency has benefited or could benefit their business.

Though many agreed that energy efficiency is not just the landlords’ responsibility, but should be the joint responsibility of landlords and tenants.

The survey questioned companies with employee numbers ranging from 200 to over 6,000.

Paul Firth, national head of real estate at Irwin Mitchell, said:

“It is interesting that the attitude to landlords seems to be changing, with businesses feeling landlords are more flexible and accommodating than in the past. Perhaps this is a function of the market in the last few years, whereby landlords have had to improve their offer to attract the best tenants in difficult markets.”

Source: PlaceNorthWest
Words: Daniel Pearce

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