As a result of the shift towards workplace flexibility, 40 per cent of UK employers now offer hybrid working options, and 25 per cent of all workers work from home at least one day per week.
Reflecting this, the nature of commercial property leases is evolving.
Traditional office leases may no longer meet the needs of businesses embracing a hybrid model. Business owners are increasingly recognising the need to adapt their office leases long term to reflect this new way of working.
How hybrid working affects space requirements
Hybrid working models may reduce the need for permanent offices that can accommodate everyone who works for a business.
Many businesses are turning to so-called ‘hot-desking’, where there are enough desks only for those who are working in the office each day.
Clearly, this means that business owners have the potential to save on operational costs by reducing the amount of office space they occupy.
Businesses should assess how much and what type of space they need. This might include smaller workspaces, shared areas, and facilities that support digital collaboration.
Considering your needs
It’s important to thoroughly analyse your needs before negotiating a new lease or renegotiating an existing one. You can do this through:
These needs will be different for each company, so you should be sure to do your due diligence before committing to new lease conditions.
Clauses in a hybrid-friendly lease
Many clauses in a hybrid-friendly commercial property lease will be the same as a traditional one. However, you’ll need to apply the needs of your business and team to specific clauses when you start the negotiation process.
These may include:
Starting the negotiation process
You should always seek legal advice and representation during lease negotiation to ensure that your terms are favourable and reflects your needs.
We can also ensure that each clause specified to your needs is legally secure and enforceable, agreed in clear terms with the landlord and their solicitor prior to you taking up your tenancy.
Hybrid working looks set to stay, and we can help you reach the best lease agreement for your requirements.
For further information, please contact us today.