Something different - be in at the beginning…but know your ‘why’! Your first drive must be because you want one of the studios.

 

A Stakeholder Tenancy, we think is our own semi-invention. We hope anyway.

The idea has several layers.

  • It provides for a committed participant to secure their studio workplace before we have planning permission. This aspect is a significant reason to get involved since if we are right, and there is demand for this proposal, then with planning granted and the studios brought to market, they would be taken quickly.

  • It crowdfunds the cost of the planning application. Becoming a Stakeholder Tenant means ‘buying in’, committing an investment (with risk) but with a return on success. A rent reduction over the first year or two will return your investment twice.

  • It creates a solid team of people and businesses who themselves might bring additional professional aid to the table.

  • It proves market beyond doubt. Any objections about the lack of need for this type of proposal are instantly dismissed.

  • It allows Stakeholder Tenants to apply some level of customisation to their studio.

  • It clearly defines the range of uses TEC will have from the start.

Large commercial developments have ‘partners’ and no doubt large retailers for example, play a significant roll with developers both in planning and finances.

It is though, we think a new idea at this level. We havn’t seen a public and openly available scheme whereby a tenant can get on board this early and in this way.

We will be consulting with solicitors as to how best we put this package together and by the time we are in a position to offer contracts all the legal elements and structures will have been put in place.

Let’s be clear though, a Stakeholder Tenancy isn’t for everyone. Maybe the vast majority of you will be instantly be put off and frankly, we fully understand. On the other side of the fence, we might run a mile.

However, we will be transparent, involving, open and when was the last time you saw an opportunity like this?

Be honest. When?

Just because something is different, has risk and breaks a mould doesn’t make it wrong.

It might just be something new. It might be for you.


 

The concept of Stakeholder Tenancy seems to be novel. The shape of this concept will evolve with the process as Stakeholder Tenants make the journey and our Lease Consultant, with our solicitors, establish the framework and content.