Värde Partners Claw Back £380 Million, by putting rents up over 11% to 15%!
Their logo on the billing invoice "where business gets it buzz" alternatively "where business gets stung!"
After being a regular prompt payer for a small office within BizSpace Northampton, having had no issues with anyone, I received a 15% annual renewal increase! I was advised I could negotiate this on email - so I asked, to be advised "it did not apply to me" with my licence - I have kept all emails which states, this was available.
It's usual practice for commercial landlords, to put up rents every 3-4 years, not within 1 year of a new business starting.
An observation - good feedback appears to be from starry-eyed current and NEW customers! Lovely when you move in. until you receive your next, eye watering, annual renewal increase of 15%!!! (cheaper though, if you go back to sales or call them, it works out at 11% - which in its self is still higher than national average increase of 3-5 % per year, if at all) the knock-on effect pushes you inconveniently to find new premises – I refuse to pass on this rise, by adding additional % to my clients bill! particularly in this current economic/politically challenging climate. BizSpace, cannot do enough for you when you are new – falsely believing that you “get a special rate” when it's just the standard one – gift-wrapped nonsense "special rate" which turned out to be the standard rate with online sales team! Beware of your leaving costs on vacating - £150.00 plus VAT, for a one person occupied office, for an alleged mail forwarding service (I have never had mail, except for the one letter from the West Northampton's Council Business Rates Department) additionally watch out for the Charge of £165.00 plus VAT for EICR one person occupied office! (this is in fact required every 2- 3 years, so why annual charge for a small office with one light user 10ft x 10ft space (hardly a heavy industrial unit) Therefore, these charges equate would you believe it - Yes! its about a month's rent, clawed back by greedy BizSpace! Double check your agreements-ask questions! Facilities: toilets in desperate need of update, look like the ones from a rundown 1970,s comprehensive school, not sure why, but people who use them are lacking in basic toilet etiquette, broken seats etc 9pictures available). The charming communal kitchens are basic and tired looking, dirty fridges, whilst long forgotten milk turns into yogurt, odours of pungent garlic drifting out and reeking in the corridors. The main reception door/unlocked often open, to the elements, 24 hrs including weekends - opens onto enticing piles of parcels and letters left un-attended on desk and floors, at all times of night/day (reception not manned, anymore - pictures available). The general public are free to saunter in at anytime - for example: two random children kept running about for hours, knocking on all the doors in the building. Coupled with the unique feature: the deafening fire alarm, which regularly goes of at random times, no one there to execute fire drills? or even switch it off. The heavily advertised sophisticated co-workers space is actually in the reception area, where random folks jockey for space, loudly conducting interviews, not very professional, the resulting atmosphere, is somewhat like a underwhelming overworked, motorway service station - walking through it, you get quizzical looks and queries for the location of the toilet (they think you are BizsSpace staff) so is co-working space = code for a pretend office - a laudable practice that has unfortunate increased, since I have been there. I was shocked at rent increase as the premises are becoming increasingly weary, worn and shabby - I have seen no updates that can possibly justify such an increase!