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Q.

What is build to suit ?

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0 2023-09-20T09:22:13+00:00

I came to learn the build to suit meaning from my colleagues. They live in a property that is build to suit. Its meaning is pretty simple. Build-to-suit commercial real estate is a type of real estate development in which a property is designed and constructed to meet the specific needs and requirements of a single tenant or a group of tenants. Unlike traditional real estate development, where properties are built speculatively and then leased to tenants who fit the available space, build-to-suit projects are initiated based on the pre-defined needs and preferences of the tenant(s). This is the simple answer to what does built to suit mean.

How is build to suit lease agreement drafted?

Like any other lease agreement, a build-to-suit lease agreement is drafted by legal professionals experienced in commercial real estate. It outlines the specific terms and conditions of the lease, including the responsibilities of both the landlord (developer) and the tenant, the construction timeline, customization requirements, rent structure, lease duration, and any other provisions tailored to the unique needs of the tenant and the development project. This is what build to suit commercial real estate means.

Get your lease agreement drafted as per the required terms and delivered well through NoBroker

Read More:

How to terminate lease agreement early? How to make a house lease/rent agreement in Chennai?
1 2022-06-30T14:04:32+00:00

Hey,

Big companies and brands such as Walgreens, Starbucks, and standalone Cafe Coffee Day do BTS projects. Don't confuse the acronym BTS with the famous Korean Band, BTS. Here, it stands for build to suit. In BTS projects, both the parties negotiate on the lease and a construction contract at the same time. Read details about the topic right here. 

What is build to suit ?

It is a construction contract wherein the landowner and the tenant of a commercial property enter into an agreement. The preface of the document is usually regarding the construction of a brand new facility for rent. The facility can be standard or custom-built. It allows organisations to meet their business needs with ease as they are the only occupants on the property. 

Buy or rent your dream house ! Check out the real estate platform NoBroker to see property in your area.  If you want legally valid rent agreement to be delivered to your doorstep.Check out NoBroker Rent Agreement Services

Build to suit real estate can be divided into two types. 

  1. Developer Route:

Here, the developer acquires a plot, constructs the facility, and retains the responsibility of the property. This is usually between companies and commercial developers. The rent tenure is a minimum of ten years. 

I hope now you know what is build to suit when it's written under under-construction properties in your area. 

  1. Sale-Leaseback Route:

In this build to suit contract type. The tenant acquires the plot, constructs the facility, and retains the responsibility for the financing. Once construction is over, the investor buys the buildings. The building has a single-tenant. 

You can understand build to suit definition as a property contract where a property is constructed according to the specifications of a prospective tenant. The lease agreement is signed and the prospective tenant pays monthly rent.

The price of the BTS project depends on the following factors :

  • Type of Building

  • Location

  • The credit of the Tenant

  • Length of Lease

  • Municipal Requirements

  • Specific Improvements

  • Size

  • Current State of Market

I hope all your doubts about build to suit have been cleared.

Read more :

Difference between Carpet area and Super built-up area?   

Can a residential house be built on a commercial site?   

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