Terms & Conditions

1. Introduction
Welcome to SpacePoint Real Estate.
This page tells you the terms on which you may use our website www.spacepoint.co.uk, whether as registered user or guest. Please read carefully before use. By using the site, you accept the terms and agree to obey them. If you don't accept them, please don't use the site.

2. Who We Are
www.spacepoint.co.uk is operated by SpacePoint Real Estate Ltd, trading as Spacepoint Real Estate, a UK Limited company registered in England under company number 12982565.
Some important details about us:
Our registered office is at: 2 Trust Court, Vision Park, Chivers Way, Histon, Cambridge, CB24 9PW
Our trading office is at: SpacePoint Real Estate, 1 Change Alley, London, EC3V 3ND
Our VAT number is: 372402616
Our regulator is: The Royal Institution of Chartered Surveyors, 12 Great George St, Westminster, London SW1P 3AD

3. Use of the Site
You have permission for temporary use of the site, but we can withdraw or change our service at any time without telling you and without being legally responsible to you.
You must treat all identification codes, passwords and other security information as confidential. If we think you have failed to keep confidentiality, we are allowed to disable any security information (including your passwords and codes). If you allow anyone else to use our site, you must make sure that they read these terms first, and that they follow them. Only use the site as allowed by law and these terms. If you don't, we may suspend your usage, or stop it completely. We frequently update the site and make changes to it, but we don't have to do this, and material on the site may be out-of-date. No material on the site is intended to contain advice, and you shouldn't rely on it. We exclude all legal responsibility and costs for reliance placed on the site by anyone. We follow our privacy policy in handling information about you. You can read our policy here. By using the site, you agree to us handling this information and confirm that data you provide is accurate.

4. Intellectual Property Rights
We are the owner or licensee of all intellectual property rights in the site (for example the copyright and any rights in the designs) and in any of the material posted on it. They are protected by copyright. You are allowed to print one copy and download extracts of any page on the site for your personal reference, but not for commercial use without a licence from us. You must not alter anything, or use any illustrations, video, audio or photographs separately from the text that goes with them. If you breach these terms, you lose your right to use our site, and must destroy or return any copies you have made.

5. Our Legal Responsibility to You 
We do not guarantee the accuracy of material on our site. As far as legally possible, we exclude legal responsibility for the following:
- Any loss to you arising from use of our site.
- Loss of income, profit, business, data, contracts, goodwill or savings.
We also exclude, as far as legally possible, all terms and warranties or promises implied by law or by statutes. We don't exclude legal responsibility for death or personal injury owing to our negligence, or legal responsibility for fraud or fraudulent misrepresentation, or for anything else where exclusion is not allowed by the law.

6. Computer Offences
If you do anything which is a criminal offence under a law called the Computer Misuse Act 1990, your right to use the site will end straightaway. We will report you to the relevant authorities and give them your identity. Examples of computer misuse include introducing viruses, worms, Trojans and other technologically harmful or damaging material. You mustn't try to get access to our site or server or any connected database or make any 'attack' on the site. We won't be legally responsible to you for any damage from viruses or other harmful material that you pick up via our site.

7. Links to Our Site
You are allowed to make a legal link to our website's homepage from your website, subject to our written consent. We can end this permission at any time.You mustn't suggest any endorsement by us or association with us unless we agree in writing.

8. Links From Our Site
Links from our Site Platform to other websites are for information only. We don't control them and don't accept responsibility for other websites or any materials found upon them or any loss you suffer from using them.

9. Variation
We change these terms from time to time and you must check them for changes because they are binding on you.

10. Applicable Law
10.1 The Parties will use their best efforts to negotiate in good faith and settle any dispute that may arise out of or relate to this Agreement or any breach of it.
10.2 If any such dispute cannot be settled amicably through ordinary negotiations between the Parties, or either or both is or are unwilling to engage in this process, either Party may propose to the other in writing that structured negotiations be entered into with the assistance of a fully accredited mediator before resorting to litigation.
10.3 Within 14 days of the appointment of the mediator, the Parties will meet with the mediator to agree the procedure to be adopted for the mediation, unless otherwise agreed between the parties and the mediator.
10.4 All negotiations connected with the relevant dispute(s) will be conducted in confidence and without prejudice to the rights of the Parties in any further proceedings.
10.5 If the Parties agree on a resolution of the dispute at mediation, the agreement shall be reduced to writing and, once signed by the duly authorised representatives of both Parties, shall be final and binding on them.
10.6 If the Parties fail to resolve the dispute(s) within 60 days (or such longer term as may be agreed between the Parties) of the mediator being appointed, or if either Party withdraws from the mediation procedure, then either Party may exercise any right to seek a remedy through arbitration by an arbitrator.
10.7 Any dispute shall not affect the Parties' ongoing obligations under the Agreement.
10.8 The English courts have the only right to hear claims related to our site, and all disputes are governed by English law.

12. Contact Us
Please email us at team@spacepoint.co.uk to contact us about any issues.

Privacy Policy

1. Introduction
This Privacy Policy (together with our terms and conditions and any other documents referred to in it) describes the type of information that we collect from you ("you/your") through the use of our services ("Services"), or the use of our website www.spacepoint.co.uk ("Website"), how that information may be used or disclosed by us and the safeguards we use to protect it.

Our Website and Services may contain links to third party websites that are not covered by this Privacy Policy. We therefore ask you to review the privacy statements of other websites and applications to understand their information practices.

We have drafted this Privacy Policy to be as clear and concise as possible. Please read it carefully to understand our policies regarding your information and how we will treat it. By using or accessing our Website or the Services, you agree to the collection, use and disclosure of information in accordance with this Privacy Policy. This Privacy Policy may change from time to time and your continued use of the Website or the Services is deemed to be acceptance of such changes, so please check periodically for updates.

This Privacy Policy was last updated on 29th October 2020 to add new provisions to the policy applicable regarding GDPR. Please check back regularly to keep informed of updates to this Privacy Policy. Please read this Privacy Policy carefully and ensure that you understand it. Your acceptance of our Privacy Policy is deemed to occur upon your first use of our Website. If you do not accept and agree with this Privacy Policy, you must stop using our Website immediately.

You have the right to make a complaint at any time to the Information Commissioner's Office (ICO), the UK supervisory authority for data protection issues (www.ico.org.uk). We would, however, appreciate the chance to deal with your concerns before you approach the ICO so please contact us in the first instance. It is important that the personal data we hold about you is accurate and current. Please keep us informed if your personal data changes during your relationship with us. If you have any comments on this Privacy Policy, please email them to team@spacepoint.co.uk.

2. Who We Are
2.1 Here are the details that the Regulation (EU) 2016/679 of the European Parliament and of the Council of 27 April 2016 on the protection of natural persons with regards to the processing of personal data and on the free movement of such data, known as General Data Protection Regulation (GDPR) says we have to give you as a 'data controller':
- Our Website address is www.spacepoint.co.uk
- Our company name is SpacePoint Real Estate Ltd
- Our registered address is 2 Trust Court, Vision Park, Chivers Way, Histon, Cambridge, CB24 9PW
- Our Data Protection Officer is Laurie Thomasson and he can be contacted at lthomasson@spacepoint.co.uk

2.2 We respect your right to privacy and will only process personal information about OR provided by you in accordance with the Data Protection Legislation which for the purposes of this Privacy Policy shall mean: (i) unless and until the GDPR is no longer directly applicable in the UK, the General Data Protection Regulation ((EU) 2016/679) and any national implementing laws, regulations and secondary legislation, as amended or updated from time to time, in the UK and then (ii) any successor legislation to the GDPR or the Data Protection Act 1998 and other applicable privacy laws.

3. What we may collect
3.1 Personal data, or personal information, means any information about an individual from which that person can be identified. It does not include data where the identity has been removed (anonymous data).

3.2 We may collect, use, store and transfer different kinds of personal data about you which we have grouped together as follows: 
Identity Data includes first name, last name, username or similar identifier. When you email, phone, live chat or otherwise, we may collect information such as your first name, last name, email address and phone number.
Contact Data includes billing address, invoicing address, email address and telephone numbers.Financial Data includes bank account and payment card details.
Transaction Data includes details about payments and other details of our Services you have purchased from us.
Technical Data includes internet protocol (IP) address, your login data, browser type and version, time zone setting and location, browser plug-in types and versions, operating system and platform and other technology on the devices you use to access this Website.
Profile Data includes your username and password, reservations made by you, your interests, preferences, feedback and survey responses.
Usage Data includes information about how you use our Website and Services.
Marketing and Communications Data includes your preferences in receiving marketing from us and our third parties and your communication preferences.
Interaction Data includes any information that you might provide to any discussion forums on the Website.
Cookies Data like many websites, we use "cookies" to enhance your experience and gather information about visitors and visits to our websites. Please refer to the "Do we use 'cookies'?" section below for information about cookies and how we use them and what kind.
Third Parties and Information we receive from other sources. We may receive information about you if you use any of the other websites we operate or through the Services we provide. In this case we will have informed you when we collected that data that it may be shared internally and combined with data collected on our Website. We are also working closely with third parties (including, for example, business partners, suppliers, sub-contractors, advertising networks, analytics providers, and search information providers) and may receive information about you from them.

Analytics includes third-party analytics services (such as Google Analytics) to evaluate your use of the Website, compile reports on activity, collect demographic data, analyse performance metrics, and collect and evaluate other information relating to our Website and internet usage. These third parties use cookies and other technologies to help analyse and provide us the data. By accessing and using the Website, you consent to the processing of data about you by these analytics providers in the manner and for the purposes set out in this Privacy Policy.

3.3 We also collect, use and share Aggregated Data such as statistical or demographic data for any purpose. Aggregated Data may be derived from your personal data but is not considered personal data in law as this data does not directly or indirectly reveal your identity. For example, we may aggregate your Usage Data to calculate the percentage of users accessing a specific website feature. However, if we combine or connect Aggregated Data with your personal data so that it can directly or indirectly identify you, we treat the combined data as personal data which will be used in accordance with this Privacy Policy.

3.4 We do not collect any Special Categories of Personal Data about you (this includes details about your race or ethnicity, religious or philosophical beliefs, sex life, sexual orientation, political opinions, trade union membership, information about your health and genetic and biometric data). Nor do we collect any information about criminal convictions and offences.

3.5 Under GDPR we will ensure that your personal data is processed lawfully, fairly, and transparently, without adversely affecting your rights. We will only process your personal data if at least one of the following basis applies: You have given consent to the processing of your personal data for one or more specific purposes;
processing is necessary for the performance of a contract to which you are a party or in order to take steps at the request of you prior to entering into a contract;
processing is necessary for compliance with a legal obligation to which we are subject;
processing is necessary to protect the vital interests of you or of another natural person;
processing is necessary for the performance of a task carried out in the public interest or in the exercise of official authority vested in the controller; and/or
processing is necessary for the purposes of the legitimate interests pursued by us or by a third party such as our financial payments, except where such interests are overridden by the fundamental rights and freedoms of the data subject, in particular where the data subject is a child.

3.6 If we receive personal information in the course of providing our Services to you from another data subject, we expect you to have complete responsibility for ensuring that the contents of this Privacy Policy are brought to their attention and you have obtained their consent in the process.

3.7 In some instances, it may be appropriate for us to combine your information with other information that we may be holding about you, such as combining your name with your geographic location or your browsing or purchasing history.

4. How we may collect and use your data

4.1 We (or third party data processors, agents and sub-contractors acting on our behalf) may collect, store and use your personal information by way of different methods to collect data from and about you including through:
Direct interactions. You may give us your information by filling in forms via our Website or by corresponding with us by post, phone, email or otherwise. This includes personal data you provide when you:present Website content; use any of our Services; create an account on our Website; subscribe to our Services or publications; request marketing to be sent to you; enter a competition, promotion or survey; or give us some feedback.

4.2 In addition to the above, we may use the information in the following ways: To personalise your Website experience and to allow us to deliver the type of content and product offerings in which you are most interested.To administer a contest, promotion, survey or other site feature.If you have opted-in to receive our e-mail newsletter, we may send you periodic e-mails. If you would no longer like to receive promotional e-mail from us, please refer to the "How can you opt-out, remove or modify information you have provided to us?" section below. If you have not opted-in to receive e-mail newsletters, you will not receive these e-mails. Visitors who register or participate in other site features such as marketing programs and 'members-only' content will be given a choice whether they would like to be on our e-mail list and receive e-mail communications from us.
Present Website content effectively to you.
Provide information, and services that you request, or (with your consent) which we think may interest you.
Carry out our contracts with you.
Provide the relevant Services to youTell you our charges.

4.3 If you are already our customer, we will only contact you electronically about things similar to what was previously sold to you.

4.4 If you are a new customer, you will only be contacted if you agree to it.

4.5 We may keep a record of those links which are used the most to enable us to provide the most helpful information but we agree to keep such information confidential and you will not be identified from this information.

4.6 In addition, if you don't want us to use your personal data for any of the other reasons set out in this section in 5, you can let us know at any time by contacting us at team@spacepoint.co.uk, and we will delete your data from our systems. However, you acknowledge this will limit our ability to provide the best possible services to you.

4.7 In some cases, the collection of personal data may be a statutory or contractual requirement, and we will be limited in the services we can provide you if you don't provide your personal data in these cases.

4.8 We will only use your personal data when the law allows us to. Most commonly, we will use your personal data in the following circumstances:
Where we need to perform the contract we are about to enter into or have entered into with you.Where it is necessary for our legitimate interests (or those of a third party) and your interests and fundamental rights do not override those interests.Where we need to comply with a legal or regulatory obligation

4.9 Generally we do not rely on consent as a legal basis for processing your personal data other than in relation to our marketing communications or sending third party direct marketing communications to you via email or text message. You have the right to withdraw consent to marketing at any time by contacting us at team@spacepoint.co.uk, and we will either delete your data from our systems or move your data to our "unsubscribe list". However, you acknowledge this will limit our ability to provide the best possible services to you.

4.10 As already indicated above, with your permission and/or where permitted by law, we may also use your data for marketing purposes which may lead to us contacting you by email and/or telephone with information, news and offers on our Services. We agree that we will not do anything that we have not agreed to under this Privacy Policy, and we will not send you any unsolicited marketing or spam. We will take all reasonable steps to ensure that we fully protect your rights and comply with our obligations under the GDPR and the Privacy and Electronic Communications (EC Directive) Regulations 2003, as amended in 2004, 2011 and 2015.

5. Cookies
5.1 All Cookies used by and on our website are used in accordance with current English and EU Cookie Law.

5.2 We use cookies to distinguish users and improve our Website. Please look at our Cookie Policy for more cookie information.

6. Where we store your data and security
6.1 We may transfer your collected data to storage outside the European Economic Area (EEA). It may be processed outside the EEA to fulfil your order and to receive our Services and deal with payment. If we do store or transfer data outside the EEA, we will take all reasonable steps to ensure that your data is treated as safely and securely as it would be within the EEA and under the GDPR. Such steps may include, but not be limited to, the use of legally binding contractual terms between us and any third parties we engage with and the use of the EU-approved Model Contractual Arrangements. Your acceptance of this Privacy Policy shall be your consent permitting us to store or transfer data outside the EEA if it is necessary for us to do so.

6.2 Where we use providers based in the US, we may transfer data to them if they are part of the Privacy Shield which requires them to provide similar protection to personal data shared between the Europe and the US. For further details, see the European Commission: EU-US Privacy Shield.

6.3 Data security is of great importance to us, and to protect your data we have put in place suitable physical, electronic and managerial procedures to safeguard and secure data collected through our Website. In addition, we limit access to your personal data to those employees, agents, contractors and other third parties who have a business need to know. They will only process your personal data on our instructions and they are subject to a duty of confidentiality.

6.4 We have put in place procedures to deal with any suspected personal data breach and will notify you and any applicable regulator of a breach where we are legally required to do so.

6.5 By giving us your personal data, you agree to this arrangement. We will do what we reasonably can to keep your data secure.

6.6 Any payments made by you, will be encrypted.

6.7 We have implemented security measures such as a firewall to protect any data and maintain a high level of security.

6.8 Notwithstanding the security measures that we take, it is important to remember that the transmission of data via the internet may not be completely secure and that you are advised to take suitable precautions when transmitting to us data via the internet and you take the risk that any sending of that data turns out to be not secure despite our efforts.

6.9 If we give you a password upon registration on our Website, you must keep it confidential. Please don't share it.

6.10 We will keep personal data for as long as is necessary which is usually the life of our relationship and up to a period of seven years after our relationship have ended. We may however be required to retain personal data for a longer period of time to ensure we comply with our legislative and regulatory requirements. We review our data retention obligations to ensure we are not retaining data for longer than we are legally obliged to.

7. Disclosing your information
7.1 We are allowed to disclose your information in the following cases:
If we want to sell our business, or our company, we can disclose it to the potential buyer.
We can disclose it to other businesses in our group.We can disclose it if we have a legal obligation to do so, or in order to protect other people's property, safety or rights.
We can exchange information with others to protect against fraud or credit risks.

7.2 We may contract with third parties to supply services to you on our behalf. These may include payment processing, search engine facilities, advertising and marketing. In some cases, the third parties may require access to some or all of your data. These are the third parties that have access to your information:

7.3 Where any of your data is required for such a purpose, we will take all reasonable steps to ensure that your data will be handled safely, securely, and in accordance with your rights, our obligations, and the obligations of the third party under GDPR and the law.

8. Your rights
8.1 When you submit information via our Website, you may be given options to restrict our use of your data. We aim to give you strong controls on our use of your data (including the ability to opt-out of receiving emails from us which you may do by unsubscribing using the links provided above in this Privacy Policy.

8.2 Under the GDPR, you have the right to: request access to, deletion of or correction of, your personal data held by us at no cost to you;
request that your personal data be transferred to another person (data portability);
be informed of what data processing is taking place;
restrict processing;
to object to processing of your personal data; and complain to a supervisory authority.

8.3 You also have rights with respect to automated decision-making and profiling as set out in section 11 below.

8.4 You have the right to ask us not to process your personal data for marketing purposes. We will usually inform you (before collecting your data) if we intend to use your data for such purposes or if we intend to disclose your information to any third party for such purposes.

8.5 To enforce any of the foregoing rights or if you have any other questions about our Website or this Privacy Policy, please contact us at team@spacepoint.co.uk.

9. Links to other sites
9.1 Please note that our terms and conditions and our policies will not apply to other websites that you get to via a link from our Website. We have no control over how your data is collected, stored or used by other websites and we advise you to check the privacy policies of any such websites before providing any data to them.

10. Changes
10.1 If we change our Privacy Policy, we will post the changes on this page. If we decide to, we may also email you.

11. Automated Decision-Making and Profiling
11.1 In the event that we use personal data for the purposes of automated decision-making and those decisions have a legal (or similarly significant) effect on you, you have the right to challenge to such decisions under GDPR, requesting human intervention, expressing their own point of view, and obtaining an explanation of the decision from us.

11.2 The right described in section 11.1 does not apply in the following circumstances: the decision is necessary for the entry into, or performance of, a contract between the you and us;the decision is authorised by law; oryou have given you explicit consent.

11.3 Where we use your personal data for profiling purposes, the following shall apply: Clear information explaining the profiling will be provided, including its significance and the likely consequences;
Appropriate mathematical or statistical procedures will be used;Technical and organisational measures necessary to minimise the risk of errors and to enable such errors to be easily corrected shall be implemented; andAll personal data processed for profiling purposes shall be secured in order to prevent discriminatory effects arising out of profiling.

12. Terms and Conditions
12.1 Please also visit our Terms and Conditions section establishing the use, disclaimers, and limitations of liability governing the use of our Website.

13. Your Consent
13.1 By using our Website and by way of acknowledgment, you consent to our Privacy Policy.

14. Dispute Resolution 
14.1 The Parties will use their best efforts to negotiate in good faith and settle any dispute that may arise out of or relate to this Privacy Policy or any breach of it.

14.2 If any such dispute cannot be settled amicably through ordinary negotiations between the parties, or either or both is or are unwilling to engage in this process, either party may propose to the other in writing that structured negotiations be entered into with the assistance of a fully accredited mediator before resorting to litigation.

14.3 Within 14 days of the appointment of the mediator, the parties will meet with the mediator to agree the procedure to be adopted for the mediation, unless otherwise agreed between the parties and the mediator.

14.4 All negotiations connected with the relevant dispute(s) will be conducted in confidence and without prejudice to the rights of the parties in any further proceedings.

14.5 If the parties agree on a resolution of the dispute at mediation, the agreement shall be reduced to writing and, once signed by the duly authorised representatives of both parties, shall be final and binding on them.

14.6 If the parties fail to resolve the dispute(s) within 60 days (or such longer term as may be agreed between the parties) of the mediator being appointed, or if either party withdraws from the mediation procedure, then either party may exercise any right to seek a remedy through arbitration.

14.8 Any dispute shall not affect the parties' ongoing obligations under this Privacy Policy.

  • Our Website address is www.spacepointre.co.uk
  • Our company name is SpacePoint Real Estate Ltd
  • Our registered address is 2 Trust Court, Vision Park, Chivers Way, Histon, Cambridge, CB24 9PW
  • Our Data Protection Officer is Laurie Thomasson and he can be contacted at lthomasson@spacepointre.co.uk 
  • Identity Data includes first name, last name, username or similar identifier. When you email, phone, live chat or otherwise, we may collect information such as your first name, last name, email address and phone number.
  • Contact Data includes billing address, invoicing address, email address and telephone numbers.
  • Financial Data includes bank account and payment card details.
  • Transaction Data includes details about payments and other details of our Services you have purchased from us.
  • Technical Data includes internet protocol (IP) address, your login data, browser type and version, time zone setting and location, browser plug-in types and versions, operating system and platform and other technology on the devices you use to access this Website.
  • Profile Data includes your username and password, reservations made by you, your interests, preferences, feedback and survey responses.
  • Usage Data includes information about how you use our Website and Services.
  • Marketing and Communications Data includes your preferences in receiving marketing from us and our third parties and your communication preferences.
  • Interaction Data includes any information that you might provide to any discussion forums on the Website.
  • Cookies Data like many websites, we use "cookies" to enhance your experience and gather information about visitors and visits to our websites. Please refer to the "Do we use 'cookies'?" section below for information about cookies and how we use them and what kind.
  • Third Parties and Information we receive from other sources. We may receive information about you if you use any of the other websites we operate or through the Services we provide. In this case we will have informed you when we collected that data that it may be shared internally and combined with data collected on our Website. We are also working closely with third parties (including, for example, business partners, suppliers, sub-contractors, advertising networks, analytics providers, and search information providers) and may receive information about you from them.
  • Analytics includes third-party analytics services (such as Google Analytics) to evaluate your use of the Website, compile reports on activity, collect demographic data, analyse performance metrics, and collect and evaluate other information relating to our Website and internet usage. These third parties use cookies and other technologies to help analyse and provide us the data. By accessing and using the Website, you consent to the processing of data about you by these analytics providers in the manner and for the purposes set out in this Privacy Policy.
  • You have given consent to the processing of your personal data for one or more specific purposes;
  • processing is necessary for the performance of a contract to which you are a party or in order to take steps at the request of you prior to entering into a contract;
  • processing is necessary for compliance with a legal obligation to which we are subject;
  • processing is necessary to protect the vital interests of you or of another natural person;
  • processing is necessary for the performance of a task carried out in the public interest or in the exercise of official authority vested in the controller; and/or
  • processing is necessary for the purposes of the legitimate interests pursued by us or by a third party such as our financial payments, except where such interests are overridden by the fundamental rights and freedoms of the data subject, in particular where the data subject is a child.

Cookie Policy

1. Definition
Cookies are small text files placed on your device when you visit our site and are used to make the users experience more efficient. We are able to store cookies on your computer where they are necessary for the operation of the site however, for non-essential cookies we need your permission.

2. How we use Cookies
We use cookies to recognise you and your preferences, improve our site's performance and collect analytical information for ourselves and our business partners. Without the knowledge gained we would not be able to provide the service we do.

3. 'Session' and 'Persistent' Cookies'
Session cookies' allow us to track your actions during a single browsing session, but they do not remain on your device afterwards.

'Persistent cookies' remain on your device between sessions. We use them to authenticate you and to remember your preferences. We can also use them to balance the load on our servers and improve your experience on our site.

Session and persistent cookies can be either first or third party cookies. A first-party cookie is set by the website being visited; a third-party cookie is set by a different website. Both types of cookie may be used by us or our business partners.

Third Party Cookies we use include: Google Analytics, this is a web analytics service provided by Google, Inc. The cookies used by Google Analytics help us to analyse how users use the site and to count the number of people who use the site. Google Analytics stores your IP address anonymously and neither Rocket Real Estate or Google associate your IP address with any personally identifiable information.

4. Disclaimer
All our cookies are categorised by the role they fulfil on our website: Strictly Necessary: these are essential to enable you to move around our website and use features such as secure services. Without these cookies such services could not be provided;
Functionality: allow the website to remember your choices and to personal certain features. These cookies may be anonymised and cannot track your browsing activity on other websites; and
Performance: collect information as to how users use the website. These cookies don't collect information that identifies a visitor. The information collected is aggregated and used to improve our website.
None of the cookies employed are classified as Behavioural Targeting. If at any time you wish to disable our cookies, you may do so through the settings on your browser. However, if you choose to disable or delete our cookies that will prevent certain important areas and features of our service from functioning properly. (but if you do so you will not be able to use certain important features of our service). You can find additional information at AboutCookies.org.

Notwithstanding, the audit undertaken regarding our cookies, it is possible we may have missed one from our list above. If you happen to find one that is being set on our site, please let us know.

Moving

15 costs to consider when moving to a leased office

Moving office is an expensive, and timely, process where some costs are not always understood or appreciated. In this article we highlight 15 costs you need to be aware of when moving to a leased office.

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We have broken them down into one-off costs and ongoing costs. Where we have felt we have been able to, we have provided high-level guidance on what those expected costs might be – but please note that costs for professional services will vary depending on the nature of the project.

One-off costs

With any leased office move, there are always one-off payments needed to relocate to new premises, most often due prior to your move.

 

1. Having an Agent

An agent will help you find and secure your new office. Their primary role is to act as your advisor, and advocate, to ensure the best possible financial, and legal terms are achieved with your new property.

They’ll run a deeper analysis on your shortlisted properties and cover off all the necessary due diligence. A good agent will be able to source all available properties that meet your requirements, provide deep property and market knowledge, and know where achievable dealing terms are throughout the different market cycles. Your agent will assume a project management role, assisting all other associated professional parties to ensure the relocation proceeds as smoothly as possible, and on time, whilst fundamentally ensuring the financial and legal terms of your property contract are as favourable as possible.

Tip: An industry standard fee is 10%of the annual rent, but performance-linked fee structures are also commonplace.

 

2. Solicitors

Once your agent has agreed the principal terms of the deal with the Landlord, solicitors will be instructed to begin drafting the lease, which is essentially your rule book to occupy the office. Your solicitor will try to ensure clauses within your leases are not too onerous upon you.  

They will also conduct property-related searches to ensure you know as much about the property and it's surrounding influences as possible, such as any known or potential risks, i.e. flooding, planning, traffic schemes, etc.

Tip: Solicitors fees will vary, however a good estimation is 3 - 5% of the annual rent, with the cost of property searches being additional, at around £800 - £1,000.

3. Surveys

Not all properties will need surveys done, but in some instances you will be well advised to do so.  For example, you may need to review the air-conditioning if you feel it is faulty. Likewise, you may choose to inspect the structural integrity of the building, which is especially advised if you are taking the whole building. You may also require a schedule of condition if you are taking fitted space. These are all professional, third-party reports you may need to commission.

Surveys and the associated due diligence process should not be overlooked - remember the Latin phrase that is used in English property law; Caveat Emptor, "let the buyer beware" - meaning the individual buys at their own risk, so appropriate investigation into what you are acquiring is important.

Tip: The cost of surveys can range from £950 - £3,000.

4. Fit-out

If the office needs a fit-out, then this is a cost that will need to be budgeted for. The level of spend is up to you, of course, but you will need to engage with a design and build contractor who will work with you to design your perfect space aligned with an appropriate build cost.

Tip: Here is a gold, silver, bronze fit-out estimate (multiply the below rates by the floor area of the space):

  • £140 - £250 per sq. ft – Gold
  • £85 - £140 per sq. ft – Silver
  • £65 - £85 per sq. ft – Bronze

5. Build Project Management

Whilst your agent will serve as project manager for the process up to the completion of the lease, for larger office acquisitions where a more complex build project is required you will benefit from engaging an independent build project manager to oversee the management of: the design process, tendering process, cost analysis, contractual adherence and programme of works.

6. Deposit

Deposit levels will vary as they are often based from an assessment of your company’s financial strength; the stronger your accounts, the lower the deposit. The deposit, hopefully in its entirety, should be returned to you when you vacate the property. The common test used by the property industry to determine whether a deposit will be requested by a Landlord is known as "The Profits Test", which requires your last 3 years of net profits to exceed 3 times the value of the annual rent for the last 3 consecutive years. If you pass this test then you may be in a position to argue for a low, or potentially zero, deposit. If you do not pass this test, then you will likely be required to lodge a deposit for the office.

Tip: The deposit sum will vary from 3 – 12 months of rent and VAT value.

 

7. Stamp Duty

A contribution towards stamp duty land tax will be payable by the Tenant upon completion of a commercial lease transaction in the event that the value of the rent (plus any additional premium payment, if applicable) is equal to or greater than £150,000 across the term of the lease. Be sure to ask your agent, or solicitor, or use the government website - https://www.gov.uk/stamp-duty-land-tax/nonresidential-and-mixed-rates

Tip: a rough calculation on stamp duty is 3.5 – 5% of the annual rent.  

 

8. Internet, Telecoms and IT Set Up

In a traditional leased office you are responsible for installing and paying for the internet and phone lines. Installing appropriate connectivity can be one of the most challenging aspects of a relocation project, with long lead times, site surveys, installations and various documents to be passed between parties. You could be subject to some one-off installation charges and additional legal costs associated with the Landlord allowing the hardware into the building. These legal contracts are known as wayleaves and will be completed during the legal process by your solicitor.

Tip: you may be subject to extra legal fees if you wish your solicitor to proof the wayleave agreement. Typically, this will be an extra £1,000 -£2,500.

 

9. Removals

If you are a small firm moving from a serviced office, then you might not incur removal costs; it may be as simple as picking up your laptops. Alternatively, you may be a larger organisation completing a relocation that incorporates the moving of extensive furniture and IT systems, thereby requiring specialist removal companies.

 

10. Dilapidations

At the end of your existing lease, you will likely be required to reinstate the office into its original condition - this will be stipulated in your lease. This is known as dilapidations or reinstatement works and may require a not-insignificant level of expenditure. You will be well placed to engage a building surveyor who will assess and negotiate to ensure that the claim that your Landlord makes upon you for dilapidations costs is fair and reasonable. For more information, read our blog on dilapidations:  https://www.spacepoint.co.uk/insights/the-onerous-topic-of-dilapidations

Tip: An industry guide is £20 - £30 per sq. ft.(multiply these rates by the floor area of the space)

 

Ongoing Costs

In a traditional lease, unlike a serviced or managed office, you need to set up and run the office yourself. This will involve ongoing costs such as:

 

11. Occupational Costs (Rent, Business Rates, Service Charges & Estate Charges)  

Rent is paid to the Landlord, or more often to their managing agent, and is generally paid quarterly in advance the quarter dates. For smaller spaces some Landlords may allow rent to be paid monthly in advance.

Business rates are the tax payable directly to the local council, not the Landlord. It is your company's contribution to help fund the borough’s local operations, much the same as your council tax at your home. You are responsible for setting up payments with the local authority, and payments can be made annually, monthly or quarterly.

Service charges, if you are in a multi-tenanted building, are paid to the Landlord, and most often within the same invoice as the rent. It covers your contribution towards the cost of running and maintaining the common areas, amenities, facilities and structural parts of the building. The cost is split proportionally across all Tenants in the building. Landlords are not allowed to profit from the service charge. If you are the sole occupier of the building then a service charge would not be applicable. Instead, you would be solely responsible for the running and maintenance of all parts of the building.

Estate charges are only encountered for those properties where there are amenities that exclusively serve the benefit of the building occupiers, but are beyond the structural boundaries of the building, and thus cannot fall within the service charge accounts. These charges might include costs associated with maintaining grounds (planting/landscaping), car parking areas, etc.

12. Cleaning

You will need to set up and manage your own cleaning contract. Incoming Tenants wish to find out which cleaners operate in the building already, or you may already have an existing relationship with a trusted contractor. If you are without options your agent may be able to put you in touch with reputable cleaning companies.

13. Utilities

Utilities are generally metered separately, with meter readings recorded upon the completion of the lease. When you move into a new office you will need to speak to the managing agent who should be able to advise you of utility providers that service the building. On some occasions utilities are billed via the service charge and proportionally charged back to you.  

14. Internet

Depending on your needs, such as number of users, file sizes being transferred, transfer speeds, multi-line resilience, etc, the monthly charges for internet connectivity can be anything from less than £100 per month, to a few £'000's per month.

15. Insurance

In a multi-tenanted building, the Landlord will purchase the buildings insurance, and then recover this cost from the Tenants, either via the service charges or via a separate insurance charge request. Tenants will be responsible for their contents insurance, and all other insurances associated with operating their business. If you are the sole occupier of the building, then it will be likely that you will have to source and pay for buildings insurance.

Hopefully this guide has provided a beneficial introduction to the breadth of costs that needed to be accounted for when relocating to, and occupying, a leased office. By contrast, serviced and managed offices will see nearly all of these costs brought together within one monthly "rent" charge, thereby making cashflow management substantially easier.

Please speak to a member of the Spacepoint team for further advice relating to leased offices, serviced offices or managed offices.

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