- Across the office and retail sectors, the market is increasingly demanding more flexible leases with shorter terms and sharing clauses; landlords are having to reconsider their offerings in order to stay competitive.
Recently, the formerly very traditional landlord and tenant relationship has seemed to be evolving into a relationship akin to supplier and consumer. The model commercial lease is being increasingly adopted in the market, and that itself is evidence of the move towards ‘fairer’ and more flexible lease terms. This is in part a product of the market, where if landlords want their spaces occupied to earn an income, they need to offer the space on competitive terms. However, factors such as agile working and better technology also have a part to play, and mean that ultimately there is less demand for space.
WeWorking
In the office sector, few will have avoided hearing of the global brand WeWork, especially as it recently attempted an initial public offering.
