Commercial office leases are typically quoted as GBP/sqft/year. Total occupancy cost includes base rent, business rates, service charge, and fit-out cost amortised over the lease term.
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Pro Tip
Negotiate a rent-free period for fit-out (typically 1-3 months) - especially in markets with high vacancy rates like post-COVID office markets.
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Did You Know?
WeWork at peak had 100K+ members across 800+ locations globally before their valuation collapse - their model proved financially unsustainable.
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