Flexibility and Adaptability
In spite of uncertainty, our client data shows a willingness from a large percentage of office occupiers to proceed with lease acquisitions, provided that the terms are right. Understandably, however, there are those with a more cautious outlook that will wait and see where possible. Flexibility in lease terms will be a theme. In the first instance, landlords will face two challenges: (1) whether to agree to short term lease extensions and (2) assessing the trade-off between additional rent free and vacancy risk.