When you’re looking to lease a commercial property, it’s important that you ask questions to ensure there aren’t any nasty surprises after you’ve signed your contract.

Below we’ve put together 12 questions you can ask before you lease your next commercial property:

Is the property in a good location?

Location is ultimately one of the most important factors to consider when looking for a property. You want a property that’s easy for you, your staff and your clients to visit, meaning it should be as close as possible to get to and would be beneficial if it was near multiple transport links.

Does the property suit my commercial needs?

The property you’re looking at may currently or previously have been used for something entirely different to your intended purpose. If this is the case you may want to look into how much work is needed to be done in order for it to meet your requirements.

If you find yourself in this situation you may also want to ask whether you need planning permission to change the purpose of the property. Due to this, it may be beneficial to look for a property that is currently being used in the same way you plan to so that you can avoid any extra costs like planning permission and building materials.

When do I need to pay rent and how much is it?

Understanding when your rent is due allows you to pay it on time and lets you know whether you need to pay rent monthly or quarterly. You may also want to ask questions like:

Are there any restrictions on assigning or subletting the property?

There may be a number of reasons why you want to come out of your contract early. If you decide to do this then it’s usually done through an assignment (where you transfer the lease over to a new tenant) or through subletting (letting all or part of the property to a third party making them your tenant). 

Your decision to assign or sublet is usually based on how much control you still want to have over the property. For example, if you choose assignment then the tenant you transfer the lease over to will become liable for any obligations under the lease and you are likely to need to enter into an ‘Authorised Guarantee Agreement’ or ‘AGA’. The agreement basically means that if the new tenant fails to abide by the terms of the lease (including not paying rent) then the landlord may come to you for a solution. 

What’s the length of the lease?

Understanding how long the length of your lease is gives you the opportunity to discover whether the tenancy agreement suits you. For example, if you’re looking for a commercial property for a short period of time, you won’t want a long term lease. 

Is the lease protected by the Landlord and Tenant Act 1954?

It may be ideal to look for a property protected by the Landlord and Tenant Act of 1954, as it gives tenants of commercial properties an automatic renewal at the end of the lease agreement, except in certain circumstances. These circumstances could include the owner wanting to sell the property or redevelop it.

In many cases landlords will exclude the security tenure provisions in legislation so that they can ensure the lease does come to an end. 

Is there a break option?

Having a break option gives you the chance to leave your premises early should any changes occur within your business. You may also want to check to see if the landlord has included a break clause where both the tenant or owner can enforce it. If a break does occur then you or your landlord are required to serve notice within a set period of time. 

What rights does the lease grant and what rights are reserved by the Landlord?

Usually standard leases include rights granted for the tenants benefit along with rights retained by the landlord. It’s important that you read the lease properly and ensure they include any extra benefits you need to use the property effectively. 

You may also want to look for things in the contract like:

Asking these sorts of questions will help you understand whether the property meets your requirements.

Do I have any obligations to fix any problems in the building?

Most leases want you to look after the property, however you want to make sure that they haven’t put responsibility on you to fix any damages or improve the property. This can help you save money through not spending on unnecessary repairs and purchases. 

What are my obligations when the lease comes to an end?

An important aspect of the contract to check is what happens when it runs out. Are you expected to remove any fixtures or alterations you’ve made or are you expected to redecorate to the landlord’s satisfaction? 

Understanding these things stops you from running into any unexpected problems as you leave.

Can I legally use the property for my business?

Leases can limit how you use the property, so you should ask the landlord what you’re allowed to use it for. It’s also your responsibility to check what planning permissions you have, as you don’t want any surprises in the future. 

Who is responsible for the buildings insurance?

When it comes to insurance, the landlord usually pays for it and they can ask the tenant to either pay the premium or a part of the insurance if there are multiple tenants in the building.

However, even though the landlord tends to pay for the buildings insurance, you as the tenant will still be required to ensure your possessions within the building.

How can Millennium Point help you?

Here at Millennium Point we have a number of commercial leases that could be perfect for you. Our spaces have:

We’re also located in Birmingham City Centre and are only a 15 minute walk away from New Street Station and Snow Hill Station, a 5 minute walk away from Moor Street Station and are  also very close to the motorway and bus routes, making it easy to commute to.

For more information on what properties we have available, visit our website.

Bader Media Entertainment CIC are back at Millennium point! Last year they premiered their latest film The Shimian in the 354-seater Auditorium. The horror film that will leave you wanting to sleep with the light on, can now be watched on Amazon Prime and other streaming services.

Now they’re back to now make Millennium Point their new home. We caught up with the team to see how they’re settling in.

About Bader Media Entertainment CIC

Bader Media Entertainment CIC are a production company with a combined passion for film making and protecting the environment. Profits made from projects go to charities and organisations that focus on combatting litter. Based in the UK, they product high-quality creative content for entertainment, community interest, and to promote their mission to protecting the planet.

Catching up and current projects

The team at Bader Media Entertainment CIC aren’t currently working on another horror film, but are working with several charities on some exciting projects.

The Sealed Knot

The Sealed Knot Charity commemorates UK history in several ways. They perform re-enactments in local communities based around battles, skirmishes, and sieges of the English Civil War. They are the oldest re-enactment society in the UK, a registered educational charity, and the single biggest re-enactment in Europe. Bader Media Entertainment CIC will be spending time with the Knot to create a recruitment commercial which will aim to showcase the fantastic social side of being a member of The Sealed Knot.

The Douglas Bader Foundation’s Bader’s Big Band

Bader’s Big Band is an ambitious project founded the first ever big band consisting almost entirely of musicians from the UK with a physical disability or diagnosed mental health condition. The band have performed at concerts, air shows, festivals, and private events.

James Peakman, Director of Bader Media Entertainment CIC explained how ‘there’s nothing quite like it’.

Continuing ‘Bader Media Entertainment CIC was named after Sir Douglas Bader. Therefore it is an honour for us to be working with his family and foundation on a documentary telling individual stories of the musicians and how they come together to play music with the big band’.

Memory Laners

The Memory Laners are a small charity based in Berwick Upon Tweed that run musical events and social activities at the Maltings Travis Studio for people living with dementia and their family and friends. Bader Media Entertainment CIC are producing a short promotional documentary showing all the great work that’s achieved there.

Other projects

Keep up to date with Bader Media Entertainment CIC here to see all the fantastic work they do.

Book in a visit to Millennium Point to view your future office space

We have a wide range of office spaces available in our landmark venue, right in the heart of Birmingham City Centre.

Take a look at our current spaces and get in contact with our friendly property team, we can’t wait to meet you!

We’re delighted to reveal a range of multi-purpose agile workspaces in our bustling landmark building. A perfect place to grow, your business can become a part of the thriving community of Birmingham city centre’s Eastside, brimming with educators, innovators, creators, and forward thinkers.

We will be announcing more in the coming weeks, and you can sign up to be the first to know when spaces are open and ready to view, we can’t wait to meet you.

For now, read more on the exciting reasons to move to Eastside and rent a property with us.

Why choose Millennium Point Property?

Choosing Millennium Point as your future business home also brings lots of benefits and opportunities. Being a multi-award-winning landmark building, we always have something going on. With high footfall, sometimes even up to 2,000 people a day, your business is sure to get noticed daily.

There are various spaces available to suit your company size and needs. The spaces have lots of amenities such as parking, 24/7 security and loading bays. Viewings will be available soon, but you can always email our friendly Property Team for more information on what’s available.

As a venue, if you ever need an event space, you have one available to hire right outside your commercial space. We have flexible spaces suitable for almost any event. With state-of-the-art facilities, a 354 seated giant screen auditorium and public & private event spaces, your event will be a winner.

A Shared Vision of a Brighter Future

Commercial profits from our building go towards our award-winning Millennium point Charitable Trust which invests £4.9m annually back into the region through projects, events and initiatives which support the growth of Science, Technology, Engineering, Maths (STEM) and education.

When you choose your home at Millennium Point, you are also sharing our vision of advancing STEM education for the benefit of local communities. You are widening your CSR by helping us make a big impact in the region. Read more about our charitable work here.

Which property space will you choose?

Have a browse through some of our available spaces below. Not what you’re looking for? Contact our friendly Property Team to discuss other commercial options.

Engine Suite

The Engine Suite is bright and airy with natural daylight overlooking the conservatoire. Located on level 4, a more private office space is the quieter choice away from the footfall of Millennium Point.

With it joins another open office space and adjacent a private board room. Perfect for team meetings and interviews, or even turn it into another office space for smaller teams. A kitchen is also connected for your team to take a break away from work and recharge.

Engine Suite offers all the elements needed to create a productive and creative atmosphere, ideal for small businesses and start-ups looking for spaces to grow.

Workpoint Suite

Workpoint Suite is the perfect space to grow your company, the window offices overlook Eastside City Park and Curzon Street Station; the world’s oldest railway terminus and future site of HS2.

Boasting 7 office spaces, Workpoint Suite allows the versatility to suit your business needs. Turn them into offices, boardrooms, or break spaces to create a productive space for your team. Facilities include a kitchenette with instant hot water tap and built in fridge and storage cupboards, lockers, hotdesks with access to power, a vibrant reception area and restrooms.

Like the Engine Suite, Workpoint is an ideal location for smaller businesses looking for that first permanent home. The addition of hotdesks provides an easy option for flexible working,  perfect for businesses who don’t require their teams to be in 5 days a week.

Level 4 A

Level 4 A offers your company a flexible space in the heart of Eastside Birmingham, with natural daylight and easy access to Millennium Point’s Atrium event space.

The open plan office is equipped with multiple uses, making it easy to suit your business needs. This space also comes with a kitchen area, LED lighting, AV equipment and air conditioning.

The size and layout of this office is perfect for medium sized businesses or smaller businesses with plans to grow their workforce.

Level 4 B

Our Level 4 B area has a multiple range of spaces available, including flexible office hire across to an outdoor terrace, perfect for hosting outdoor events with your clients. Or turn it into a break space for your employees.

The space is equipped for multiple uses, making it easy to change and adapt to your business needs. Like Level 4 A the space comes with a kitchen area, LED lighting, AV equipment and air conditioning.

Why choose Eastside?

As Millennium Point open its doors, we welcome anyone hoping to join to continue Eastside’s exciting growth. Owning a business in Eastside you will be in a cluster of STEM excellence and become a part of an area that is becoming known as the knowledge quarter of Birmingham.

Close to all major city travel links, whether you travel by car, bus, bike, or even by foot, you’ll reach us quickly with ease. You will also be close to everything the nearby area has to offer, boasting a selection of hotels, pubs, shops and more. Adjacent, will be the future home to HS2 connecting two major cities, bringing with it an increase in footfall through and past our landmark building. The expansion of the Metro will also bring in visitors from across the city making it more accessible for all.

Eastside is undergoing billions of pounds worth of regeneration. The sheer scale of the regeneration occurring in Birmingham Eastside means the area will be a hotspot of activity soon. A short walk from Eastside is Digbeth, another area that is going through an exciting regeneration period, brimming with areas of culture, fantastic music venues and pubs.

Want to see what Millennium Point has to offer? Let’s talk

We’ve been successful tenants for over 20 years, with lots of space available and with the area’s regeneration, it’s never been more of an exciting time to join. Contact our team today and discover how you fit in at Millennium Point.

Find more interesting content from Millennium Point over at our news section, or follow us for daily updates on Facebook, Twitter, Instagram and LinkedIn with @MillenniumPoint. Millennium Point is a landmark public building and multi-award-winning events venue in the Eastside of Birmingham City centre. Profits from our commercial activity are invested by the Millennium Point Charitable Trust into projects, events and initiatives which support the growth of science, technology, engineering and maths (STEM) and education in the West Midlands.