Leases and transactions

Re-lettability

How easily a property can be let or sold to others after the occupier leaves.

Standard buildings with a good grid, sufficient height, floor load, door count and flexible fire protection can be re-let broadly. Highly specialised assets often achieve higher rents but carry greater risk.

Criteria

Alternative-use potential is derived from location, plot size, building parameters and permits. These include a height of at least 10 m, a wide column grid, sufficient floor load, a balanced dock ratio, divisibility, sprinklers, night operations and an expandable grid connection.

Role in valuation and financing

Valuers and banks assess how quickly and at what rent an asset can be re-let after the occupier leaves. High alternative-use potential reduces risk discounts and increases borrowing capacity. Specialist properties therefore need longer leases or stronger tenant covenants.

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