Lpc Cresa, a leading advisor to commercial tenants across Australia and New Zealand, has launched an online subscription service aimed at making their leasing advice and representation more accessible and affordable to small businesses.
“Covid has made many commercial tenants realise the impact their leases have on remaining sustainable, particularly when they’ve experienced decreased revenue combined with density restrictions, all while still having to paying rent,” says John Reed, a Director at Lpc Cresa.
The subscription service is designed to help office, retail and industrial tenants achieve tenant friendly leases by providing webinars, video tutorials, user guides, checklists, and templates that facilitate effective lease negotiations and lease management. “While the subscription is aimed at business owners that would prefer to take a ‘DIY’ approach, it also includes discounted tenant representation when they need more bespoke advice,” says John Reed.
Dylan O’Donnell, Managing Director of Lpc Cresa Victoria, says the subscription service has been extremely well received by a number of industry associations, aimed at providing property advice to their members. “We’ve recently partnered with the Restaurant and Catering Industry Association, National Retail Association, Gymnastics New South Wales, and Gymnastics Queensland to provide the subscription to their members, as so many have been hit hard by lockdowns and border closures. A reset of leasing arrangements can be the difference between closure and continuance.”
The subscription service roll out also coincides with the recent release of the Restaurant and Catering Industry Association’s Benchmarking Report, which saw rent and outgoings jump from an average of 13% to 23% of revenue in the last financial year. “This situation is not sustainable for hospitality businesses”, says Kyle Swain, Director of Retail at Lpc Cresa. “It highlights the urgent need for changes to leasing arrangements to contribute to a much-needed economic recovery.”
For more information on the Subscription Service, please visit Lpc Cresa’s overview here.
At Lpc Cresa, we help tenants across Australia and New Zealand with their commercial real estate needs, including transaction advisory, portfolio management and project management. In summary, we make sure tenant interests are protected and that our clients enter into tenant friendly lease agreements.