Making an Offer
If you are interested in taking a property you will need to confirm your offer in writing, ideally in an email or by way of a letter on your company headed paper. Your offer will need to include details about your company and confirm the terms.
If you are an established Ltd Company, we need to know the name of your company, Information about the Directors, your VAT registration details, Company registration No. and you will also need to provide us with 3 years trading accounts.
If you are Sole Traders, a Partnership or a new Ltd Company we will require information about the directors or partners, home addresses, if you have registered for VAT And the Company No. You will need to provide guarantees in the form of a rent deposit, directors guarantees or a cross company guarantee.
Your offer should include the following:
- It is usual for a deposit of between 3 & 6 months to be required plus service charge & VAT. Sometimes it can be more. We will advise you of the level of deposit having considered the nature of your business and the proposal.
- Confirm lease term and rent review pattern. This will usually be on the details.
- If you are seeking a rent free period, if so how long?
- Are you offering a premium?
- Seek clarification if the lease is Inside or Outside the Act. This will be on the details.
- Give a brief summary of any works/fit out you may be proposing
- Details of works that you expect the landlord to undertake
- Ask for clarity on any matters that you are not clear of
- Provide a summary of what your business does or will do together with a business plan
- Provide details of your Solicitor
- Provide details of the following Referees
- Company or personal Bankers
- Present Landlords
- Upon receipt of a satisfactory offer and the essential information above, we can prepare detailed Heads of Terms