Acquisitions

Hollis Hockley has a strong market position in the M3 Corridor and the Partners have an unrivalled knowledge of all aspects of the office and commercial industrial and warehousing sectors in the region

We leverage this knowledge when appointed by our clients to purchase property interests or acquire leases to ensure optimum terms are secured

We understand that our client have specific requirements to suit their operations and culture. Our advice is tailored to the individual brief. Hollis Hockley is able to undertake a search to acquire property interests in the region and throughout the UK

Our acquisition service typically includes the following:

  • Agreeing a comprehensive brief of your requirement
  • Undertaking a comprehensive property search both for market and ‘off market’ opportunities on a confidential basis
  • Preparing a shortlist, arranging and accompanying clients on viewing inspections
  • Verifying property details including floor areas, parking provision, rateable value, running costs and service charge details. Specialist advice is sought in respect of mechanical and electrical systems where appropriate
  • Inviting or submitting proposals as required and negotiating terms
  • Liaising with solicitors relative to draft contracts; valuation and building surveying reports where necessary
  • Time constraint awareness throughout the acquisition process

FAQs

What is the difference between Net Internal (NIA) and Gross Internal (GIA) floor areas?

The Net Internal Floor Area (NIA) of a building is the GIA less the areas taken up by lobbies, enclosed machinery rooms, stairs and escalators, mechanical and electrical services, lifts, columns, toilet areas, ducts and risers

This method of measurement is typically applied to office buildings, and now covered by the current code of practice, whereby offices are measured under a basis known as IPMS3

The Gross Internal Area (GIA) of a building, typically an industrial or warehouse unit, is the area measured to the internal face of the perimeter wall. It therefore includes areas occupied by internal walls and partitions, columns, piers and other projections, stairwells, toilets, lift lobbies and corridors

What is a Licence to Alter and why does a tenant need one?

If a business takes a lease on new premises, works may be required whereby a Licence for Alterations will be required from the landlord

The objective of the Licence is to record all works that alter the leaseholder’s demise. If the tenant makes material changes to their demise without obtaining a Licence from the landlord or managing agent it may be considered as a breach of the lease.

It is usual for a Licence for Alterations to incorporate a reinstatement provision, whereby the tenant is required to reinstate the premises at the end or earlier termination of a lease