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Break strategy – the key to breaking out

Howard Cooke (GAV Grimley, London, UK)
Simon Woodhead (Birketts LLP, Norwich, UK)

Journal of Corporate Real Estate

ISSN: 1463-001X

Article publication date: 9 May 2008

Abstract

Purpose

The purpose of this paper is to look at the problem caused by the operation of break clauses contained in commercial leases – a predominantly UK phenomenon, a consequence of longer lease terms.

Design/methodology/approach

The pitfalls that can befall a corporate occupier are numerous and the authors of this paper share some of their recent experiences to highlight issues that can arise and how a Corporate Real Estate Manager or advisor can avoid or minimise those risks.

Findings

For corporate occupiers, the operation of a break clause can be fraught with difficulty and its successful implementation requires a strategy to be put in place well in advance of the break date.

Originality/value

The paper shows how turmoil in the wider financial market could make the flexibility that breaks offer very important to certain businesses.

Keywords

Citation

Cooke, H. and Woodhead, S. (2008), "Break strategy – the key to breaking out", Journal of Corporate Real Estate, Vol. 10 No. 2, pp. 110-120. https://doi.org/10.1108/14630010810905615

Publisher

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Emerald Group Publishing Limited

Copyright © 2008, Emerald Group Publishing Limited