child mortarboard gbp briefcase bath coffeecup tree twitter search crosshair fax house papers sort house-pound brochure list-items notes printer video-camera video virtual-video bath bed camera floorplan heart-empty heart-filled heart-empty-thin heart-filled-thin sofa calculator compass share clock list map-pen map-pin pencil save business-card letter phone heard people pointer cross linkedin google-plus facebook arrow-right close triangle-down my-wink my-wink-thick house-circle loading-spinner bell close-circle dog link pinterest school transport wardrobe arrow-up one two three four five six seven tick

Acquiring a Winkworth office - locations and leases

There are many factors to think about when opening a Winkworth office, however near to the top is location.

If you look at our offices, although not huge, we like to be in prominent eyesight; outside train stations and in corner units on high streets ensuring that we have a great presence for walk-ins.

A factor that could potentially become an obstacle is the lease on a unit. There are several standard terms to be agreed in a lease – which could become a lengthy and complicated process.

You, as franchisee, will negotiate the lease, and it is important in securing the unit to make yourself as desirable as possible. You may offer a long lease, and pay the rent in lump sums agreed with the agent and landlord, i.e. ‘payable quarterly in advance’, or six months upfront and the second six months in a lump sum; ‘half yearly in advance’. You may need to make an offer for the premium – known as ‘key money’ when taking out a ‘new’ lease.

You will need to offer a deposit - the amount in months’ rent you intend to offer as a rental deposit (generally 3-6 months), dependant on the strength of the company. Landlords look for recognised brands as tenants. Winkworth is an attraction option as we approve franchisees and rarely close our offices, but resell instead. We only take on good locations and under a trusted brand have a good track record.

Remember to ask about the ‘Security of tenure’. Is the lease to be held ‘within’ or ‘without’ the provisions of the Landlord and Tenancy Act 1954? Within means the landlord legally has to offer you, ‘the tenant’ a new lease once the original lease expires if you ask for it to be renewed (except if the property is being redeveloped). Without means the landlord does not have to renew the lease if requested by the tenant.

Rent review structures can be proposed by yourself. Bear in mind that the industry standard is for rent reviews to be five yearly and upward only. This means that rent can only go up in line with market rent. Rents can also regularly be reviewed every three years, and sometimes are linked with RPI (Retailers pricing index) aka inflation.

Head office will endeavour to aid the acquiring of a lease for a potential franchisee if we believe the location is best placed, and subject to full due diligence and contract.

To find out how you can become part of Winkworth contact our New Franchising team

James Campbell | Gina Piper | 0207 355 0200

Related posts

Winkworth’s innovative social media advertising with Adfenix

Read post

July 13, 2018

Winkworth’s coastal expansion plan

Winkworth currently has 100 offices in the UK, with 60 in the capital and 40 outside the M25 in the country.

Read post

July 13, 2018

Winkworth New Franchising H1 update

The new franchising team have been very busy in the first half of 2018. Dominic Agace, CEO, comments “We expect 2018 to improve further on what we achieved in 2017, with the continued growth of the Winkworth network. We have some really good people at the helm of each office who are helping to drive the network and brand forward to continued success.”

Read post

June 27, 2018

Find your Local Office

Find your Local Office

Speak to people who, quite simply, love their patch and love what they do.

Get a Free Valuation

Get a Free Valuation

Thinking of selling or letting your property, or just interested to know what it is worth nowadays?