Introduction
Before marketing a commercial property to prospective tenants, it is important for landlords to prepare the relevant information that occupiers and their advisers will expect to review. Providing accurate and comprehensive property details at an early stage can help build confidence with potential tenants and significantly speed up the letting process.
This section explains the types of information tenants typically require when considering renting commercial property and how landlords can prepare effectively.
Understanding the Information Tenants Require
When evaluating a commercial property, tenants will usually focus on several key factors including:
- Suitability of the premises for their business
- Location and accessibility
- Rental levels and overall occupation costs
- Planning permission and permitted use
- Building condition and operational capacity
Providing clear and accurate information on these points allows tenants to assess whether the property is appropriate for their business before progressing with negotiations.
In many cases, tenants will also instruct surveyors and solicitors to review the property information before agreeing lease terms.
1. Preparing a property information pack
To assist potential tenants and their advisers, landlords should aim to assemble a comprehensive property information pack. This documentation helps answer common queries early in the transaction and reduces delays during legal negotiations.
Typical information that may be requested by tenants includes:
- Planning permissions and lawful use certificates
- Planning use class designation under the current planning regulations
- Commercial Energy Performance Certificate (EPC)
- Business rates information and any available reliefs
- Local authority searches or relevant planning history
- Stamp Duty Land Tax (SDLT) considerations on leases
- Utility capacity and infrastructure information
- Topographical surveys (particularly for development land)
- Asbestos surveys or management reports
- Traffic or transport assessments (if relevant)
- Demolition or redevelopment cost estimates (if applicable)
- Ordnance Survey plans or site layout drawings
- Detailed architectural or development plans
- Environmental reports or contamination assessments
- Ground investigation or geotechnical reports
- Commercial Property Standard Enquiries (CPSE) forms
- Draft lease or legal contract documentation
Not every property will require all of these documents, but providing relevant material early in the process can make the property more attractive to potential tenants.
2. Legal and compliance information
Commercial tenants increasingly expect landlords to provide documentation demonstrating that a property complies with regulatory requirements.
Important compliance documentation may include:
- Energy Performance Certificates (EPCs)
- Asbestos management plans
- Fire risk assessments
- Health and safety documentation
- Electrical safety information
Providing these documents at the outset helps reassure tenants that the property is properly managed and legally compliant.
3. Benefits of providing comprehensive information
Although it is not legally mandatory to provide all documentation in advance, doing so offers several advantages for landlords.
A well-prepared property information pack can:
- Reduce delays during legal negotiations
- Minimise repeated enquiries from tenant solicitors
- Improve tenant confidence in the property
- Accelerate the leasing process
- Reduce professional costs associated with the transaction
Most importantly, having information readily available can help landlords secure tenants more quickly and reduce void periods.
4. Professional support for landlords
Landlords often work with professional advisers when preparing commercial property information for tenants. These may include:
- Commercial property agents
- Chartered surveyors
- Solicitors specialising in commercial property
- Environmental or technical consultants
Professional advisers can help ensure the information provided is accurate and presented in a format suitable for prospective tenants and their legal representatives.
Summary
Preparing accurate and comprehensive property information is a key step when marketing commercial property for letting. Tenants and their advisers require detailed documentation to assess the suitability, compliance and operational capacity of a property before agreeing lease terms.
By assembling a well-structured property information pack and making key documents available early in the process, landlords can streamline negotiations, reduce delays and improve the chances of securing a successful tenancy.
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