JOINT VENTURES

Non-traditional leasing arrangements such as management agreements, turnover leases and joint ventures offer an important opportunity for both operators and property owners. As such, they are becoming more prevalent whilst the sector expands into better quality Grade A office stock in central business districts across the UK.

Flexible workspace is being recognised as a new sector of the property industry in its own right and is growing rapidly. It is expected to comprise some 12.5% of the UK market by 2023, with a significant annual uptake in core regional markets being recorded this year.   

But how many operators and property owners have the experience and knowledge to enter into an agreement of this nature without falling foul of some of the many pitfalls?

g8 can get you Management Agreement-ready, offering advice on all aspects of the complex set of negotiations involved in JVs and Management Agreements. This includes the five Rs: Roles, Revenue, Returns, Responsibilities and Rewards. Find out more about our unique Getting Management Agreement Ready course here.

 
Notcutt House - penthouse suite2.jpg

OUR CONSULTANCY SERVICES IN RELATION TO JV AND MANAGEMENT AGREEMENTS INCLUDE:

  1. Assistance in the preparation of an outline joint venture or management agreement including advice on the waterfall of payments, a key element of any JV or management agreement.

  2. Introduction to suitable property owners/operators (as the case may be).

  3. Negotiating up-to-date market terms on your behalf.

  4. Working with your solicitors in finalising the joint venture or management agreement and securing the deal.

 
Runway_East_Soho_260820_95-2.jpg

ADVANTAGE FOR PROPERTY OWNERS

The commercial real estate world is changing rapidly. It has never been more important to understand what occupiers require and how to meet their needs as demand evolves. Many property owners, including the likes of British Land, LandSec, L&G and The Crown Estate, recognise the need to offer flexible workspace alongside traditional leases of conventional office space.

Joint ventures and management agreements allow property owners to outsource the operational skills needed to generate income and market flexible workspace effectively and professionally.

Property owners seeking to enter the flexible workspace or space-as-a-service sector, can read more about how to navigate the sector in our Consultancy services for property owners paper, which you can download here.

 
TheCoalface_050319_33 (1) (1).jpg

ADVANTAGE FOR OPERATORS

The advantage for operators is to create both a balanced portfolio of leased/owned and JV operations while leveraging their skillset to develop new and long lasting relationships with property owners.

 

TRACK RECORD

Please see below some of the recent management agreement transactions we have acted on for both operators and property owners.

 
 
12/18 Theobalds Road, WC1

12/18 Theobalds Road, WC1

The Smith, Kingston Upon Thames

The Smith, Kingston Upon Thames

9 George Square, Glasgow G2

9 George Square, Glasgow G2

12/18 Theobalds Road, WC1

12/18 Theobalds Road, WC1

The Smith, Kingston Upon Thames

The Smith, Kingston Upon Thames

9 George Square, Glasgow G2

9 George Square, Glasgow G2