When to Renew or Relocate Your Commercial Lease: A Practical Guide from Tenant Leasing Group

1. Evaluate Your Space Needs

• Warehouse/Industrial: Are you running out of space or facing inefficiencies with your current layout? If your operational needs or inventory have changed, a new location might better support your business objectives.
• Retail: Assess your foot traffic and sales performance. If your location is no longer attracting customers or if it doesn’t align with your target market, exploring new premises could be beneficial.

2. Consider the Financial Implications

• Renewal Costs: Review your current lease terms. Are you facing substantial rent increases or additional fees? Although renewing might seem cost-effective, ensure you’re not overlooking potential financial pitfalls.
• Moving Costs: Factor in the expenses associated with relocating, including moving costs, downtime, and possible disruptions. In some cases, relocating could be more cost-effective if it aligns better with your long-term goals.

3. Examine Market Conditions

• Trends & Deals: Investigate current market trends. Are there more attractive deals available? A market analysis can help determine whether renewing or moving offers a better financial advantage.
• Property Availability: Look into the availability of properties that fit your requirements. If the market is competitive, it may be prudent to negotiate a renewal while keeping options open.

4. Explore Lease Flexibility

• Renegotiation: Before making any decisions, discuss the possibility of renegotiating with your current landlord. Improved terms or upgrades to your existing space might make renewal a viable option.
• Future Needs: Consider whether your business needs are likely to evolve. A new lease might offer more flexibility if your business strategy is changing.

5. Align with Long-Term Goals

• Strategic Fit: Ensure your decision supports your long-term business goals. If your current location no longer aligns with your vision, relocating might be a strategic move.
• Growth Potential: Assess whether your current space can accommodate future growth. A new property might better support your expansion plans.

6. Partnering with Experts: Leverage TLG’s Expertise

At Tenant Leasing Group, we specialise in guiding businesses through the challenges of relocation and lease renewals. Our team offers expert advice on selecting the right warehouse space, as well as negotiating renewals and other lease deals. We understand that every business is unique, and we tailor our services to meet your specific needs and goals.

Choosing between renewing your lease or relocating involves evaluating your space needs, financial impacts, market conditions, and future goals. By carefully considering these factors, you’ll be well-positioned to make a decision that supports your business’s success. Tenant Leasing Group (TLG) is here to guide you through every step of this important process.

Ready to discuss your lease options? Contact us today!

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How TLG can support your business through growth and expansion:

Tenant Leasing Group (TLG) bring over half a century of combined experience in retail and industrial property – we specialise in making sure that innovative, growing retailers and other businesses find the best sites and get the best fit-out options as they expand.

We have the access, partners and networks to help get the job done. Appointing industry professionals from the start of your journey can save time and money.

Tenant Leasing Group (TLG) is a commercial property advisory specialised in sourcing and lease negotiation for Warehouses (3,000+ sqm), Head Offices and Multi-Site Retail.

Impeccable service with an entrepreneurial spirit. Trusted for 50+ years’ across Australia & New Zealand.

We do property so you can do business growth.

tl-group.com.au

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