Lettings Policy for Office Space at BDC
The Business Development Centre was created to provide a new centre that brings together local business / community support agencies together under one roof. 80% of the premises are let to such arganisations and 20% is commercial business lets.
The BDC is managed by SsBa, as a service provider in a multi - cultural area, is committed to the establishment and development of a positive policy of equal opportunity in employment and the provision of all its services.
The Letting Policy for offices within the BDC is subject to and fully compatible with our Equal Opportunities Policy.
1. BDC allocations are made only to eligible applicants. Eligible applicants are those who have a] a live application, b] if an existing tenant, is not in arrears or in breach of any term of their tenancy agreement.
2. Shortlisting from the waiting list will be based on the suitability of the proposed business i.e. business / support organisations [1*] and the size of premises required by the applicant. Where two or more applicants have equal priority, existing tenants will have higher priority than non- tenants. Where two or more applicants still have equal priority, higher priority will be given to the applicant with the chronologically older application.
3. In the event of there being no suitable candidate on the waiting list, referrals will be sought from existing tenants and trusted individuals. Referred applicants must complete an application and then the process outlined in 2 above will apply with an additional priority being given to applicants from the local area [London Borough Of Tower Hamlets residents].
4. If no suitable referrals from trusted tenants and individuals can be obtained, the available space will be advertised in the local paper. Respondents must complete an application and then the process outlined in 2 above will apply, with an additional priority being given to applicants from the local area [London Borough Of Tower Hamlets residents].
5. The target turnaround time for relets of void properties is 28 days from the void date.
[1*] Suitable businesses - definitions and further priorities
- No competing businesses will be allowed next to an already existing business to avoid unnecessary competition.
- Complimenting businesses will be given priority.
- No allocation will be made for illegal use.
- No allocation will be made for restaurant use in whatever form.
- No allocation will be made where there is a conflict of interest.
- No allocation will be made for residential purposes.
- No allocation will be made to finance businesses such money transfers and banking because of the increased insurance costs.
- No allocation will be made which would create serious risk and compromise our buildings insurance.
- No allocation will be made to competing property services businesses such as property management agents, lettings agents, sales or general estate agencies.
- Preference will be given to unique businesses particularly those not already within our tenant base.
- All new lets will be subject to receipt of satisfactory references from two trade referees and a satisfactory bank reference. For new businesses we require two character reference and a robust business plan along with a satisfactory bank reference.
- One of the trade references must come from the applicant’s current landlord [where one exists]. The bank reference must certify the applicant’s capacity to pay three months rent in advance.
- Priority will be given to those are demonstrably prepared to take an active role and make a positive contribution to the community.
- A deposit equivalent to two month's rent is required and one month's rent must be paid in advance prior to commencement of tenancy.
Managed by SsBA Ltd