Commercial lease expiry: what should I do?

If your commercial lease expires within the next 18 months, the clock is already ticking.

Lease events – whether that’s expiry, a tenant break option or a rent review – are some of the biggest decision points in a business’s property journey. Get it right and you can unlock cost savings, better performance and stronger employee experience. Leave it too late and you limit your options.

So where should you start?

Step one: understand your lease position

Before you look at Rightmove or start sketching office layouts, get clear on the legal detail.

• How long is left on the term?
• Is there a break clause, and what are the notice requirements?
• What are your dilapidations liabilities?
• Are there rent review provisions coming up?
• Can you assign or sublet the space if needed?

In 2026, landlords are often more flexible than they were pre-pandemic – particularly in regional markets where vacancy rates remain elevated. That can mean incentives, rent-free periods or contributions towards refurbishment works if you choose to stay. But you only have leverage if you start discussions early.

Step two: sense-check your space

The bigger question is whether your current office still works for your business.

Since 2022, hybrid working has moved from experiment to embedded reality. According to the latest UK workforce data, the majority of office-based employees now work in a hybrid pattern, typically 2 to 3 days per week in the office. That shift has changed what offices need to do.

Ask yourself:

• Does your current layout support collaborative work rather than rows of underused desks?
• Are you paying for space you no longer need – or struggling because you reduced too far?
• Does your office help attract and retain talent in a competitive hiring market?
• Is your technology infrastructure fit for video-first working?
• Does the building’s EPC rating and sustainability performance align with your ESG commitments?

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Location still matters – but differently

The role of location has evolved.

Access to public transport, cycle storage and local amenities still matters for recruitment and retention. But commute times now influence attendance patterns more than ever. If most of your team are travelling in for purposeful collaboration days, the quality of that experience needs to justify the journey.

For some organisations, that means upgrading within the same area. For others, it’s an opportunity to rethink geography entirely.

Should I stay or should I go?

At lease expiry, you typically have three main routes:

1. Renew and refurbish – negotiate new terms and upgrade your existing space.
2. Relocate – move to a building that better fits your current and future needs.
3. Reconfigure or downsize – optimise your footprint in line with hybrid working.

Refurbishing can be cost-effective, particularly if your building is fundamentally sound and your landlord is willing to contribute. It also avoids business disruption and dilapidations costs.

Relocating gives you a blank sheet of paper. You can embed sustainability from day one, design around culture and collaboration, and potentially reduce running costs through more efficient space planning and energy performance.

The right choice depends on data – not instinct.

Why a feasibility study is critical

One of the most common mistakes we see is businesses jumping straight to square footage calculations.

“How many desks do we need?”
“What’s the rent per sq ft?”

Those are important questions, but they’re not strategic ones.

A feasibility study looks at:

• Actual utilisation data and hybrid patterns
• Business growth projections
• Workplace strategy and culture
• Budget modelling – including capex vs long-term operational costs
• Dilapidations exposure
• ESG targets and building performance
• Programme timelines and legal considerations

It gives you a clear comparison between doing nothing, refurbishing or relocating – with evidence behind each option.

Your workplace strategy should shape your property decision. Not the other way round.

Move, downsize or reconfigure your workplace

We work with organisations across the UK to navigate lease events and make informed property decisions – from early feasibility through to workplace design and delivery.

We help clients define:

• Realistic budgets
• Space requirements based on behaviour, not guesswork
• Potential locations
• Sustainability approach and EPC considerations
• The suitability of existing premises
• Cultural and employee impact
• Programme timelines and risk
• Stakeholder management and internal communication

A lease expiry is more than a property milestone. It’s a chance to reset how your workplace supports performance, culture and long-term value.

If your lease is approaching and you’d like an objective view of your options, get in touch with Fin: [email protected]