01Our operating model
We take the head lease. You take the space.
An occupier-led model designed to remove friction and head-lease risk — while giving landlords a credible, single contracting party.
01The model
BPS Lettings becomes the tenant on the head lease and sub-lets the property to the client.
This is not the conventional agent model. We do not simply introduce landlords to occupiers and collect a fee. Instead, we go to market on the occupier’s behalf, find the right space, negotiate directly with the landlord — and then take the head lease in our own name. We then sub-let the property to you under a sub-lease agreement.
The result: you occupy the space you need, under a contract written for an occupier’s circumstances, without holding the head-lease relationship with the landlord. That relationship, and the financial covenant obligation that comes with it, sits with BPS.
02The chain
Three parties. One clear chain of contracts.
Every transaction follows the same structure. The landlord grants a head lease to BPS. BPS grants a sub-lease to the client. The landlord and client have no direct contractual relationship.
Landlord
Grants the head lease
BPS Lettings
Takes the head lease, then sub-lets
Client
Holds a sub-lease, ready to trade
03Who benefits, and how
What the model means in practice.
For clients (occupiers)
One point of contact. A contract built for occupiers.
- —Single counterparty. Your sub-lease is with BPS. You have no direct legal exposure to the landlord — rent obligations, dilapidations negotiations, and lease renewals are handled by us.
- —Contract written for occupiers. Sub-lease terms are structured around what a trading occupier needs: clear alienation provisions, appropriate use class, sensible break clauses.
- —Active sourcing. We don’t wait for landlords to list. We go to market on your brief, approach off-market owners, and use sector contacts others don’t have.
- —Head-lease risk stays with us. The landlord’s covenant — their counterparty risk — is BPS, not you. We underwrite that relationship.
For landlords
BPS is the covenant. A single professional contracting party.
- —BPS is your tenant. The head lease is with BPS Lettings Ltd. You deal with a single, professional counterparty for rent, dilapidations, and lease management — not with individual occupiers.
- —Covenant strength. Our balance sheet and track record stand behind the head lease, not an unknown end-user. We take the financial covenant risk and manage the sub-lettings ourselves.
- —Unusual spaces let. We specialise in properties where conventional agents struggle — rural, industrial, leisure, food processing. We bring briefed, motivated occupiers who are ready to trade.
04Common questions
Frequently asked questions.
Who is my contract with?
Your sub-lease is with BPS Lettings Ltd, not with the landlord. We are the head tenant; you contract with us. This gives you a single counterparty and a lease written to reflect an occupier's needs rather than a landlord's.
Who pays the rent?
BPS Lettings pays rent directly to the landlord under the head lease. You pay your sub-lease rent to BPS. The landlord has no direct financial claim on you — that exposure sits with us.
What happens at the end of the term?
At expiry, your sub-lease ends and BPS negotiates the head lease surrender or renewal with the landlord. You are not responsible for the dilapidations position under the head lease — that is between BPS and the landlord.
Are you acting for me or the landlord?
We are instructed by occupiers (clients). We go out to the market on your behalf, identify and negotiate suitable space, and then take the head lease ourselves so you can trade. We are not a letting agent for landlords; we are a principal that sources and contracts.
Tell us what you need. We’ll go and secure it.
Brief us on your requirement and we’ll source, negotiate, and take the head lease so you can trade.