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Overview

What's Typical

TERM

3 years fixed term, larger occupiers may be able to secure multiple terms

BREAKS

Negotiable but rare

RENEWALS

Options negotiable, typically a further 3 year term

RENT BASIS

Monthly based on the area quoted by the landlord (Net/Gross/Lettable)

FREE RENT

1–3 months (Or 4 months is possible for sizable tenants)

ESCALATION

No escalation within 3-year leases. OMR after 3 years with 6-year leases

SECURITY

Usually equivalent to 3 – 6 months' rent, management fees and government rates

TENANT'S BROKER

Landlord pays in case of a relocation, typically tenant pays in a renewal

FIT-OUT

Tenant pays

RIGHT TO SUBLET

Sometimes allowed for 20–30% of premises for larger occupiers

TRANSPARENCY

Highest in Asia

FENG SHUI

Can affect space selection and design

Offices

Hong Kong +852 2820 2800

Kowloon +852 2820 8100