[Market Insight, Tenant Advisory]

Why You Need to Consider Agendas When You Are Not Paying an Advisor to Search for Your Property

Apr 8, 2026 2:42:03 AM
Bryce Stickland

Many healthcare occupiers assume that if someone is helping them find property at no direct cost, that help is effectively free. In practice, it is usually paid for somewhere in the transaction, and that matters because payment structure often shapes behaviour.

That does not mean fitout providers, project managers, or other service groups cannot add value. Many do, and many are excellent operators. But their core business is not always the same as yours. If a party is primarily geared toward delivering fitouts, there is a natural incentive to progress a project into a fitout scope. That commercial reality does not make them wrong. It just means their agenda may not be identical to the agenda of a healthcare occupier trying to secure the best possible property outcome.

For tenants, that distinction is important.

A property search is not just about finding a space that can physically fit a practice. It is about filtering the market properly, testing supply that is not obvious, negotiating the commercial structure, and ruling out options that may create long-term operational drag. A group can waste months on the wrong premises if the search starts too late, relies on incomplete market coverage, or is shaped by what is easiest to deliver rather than what is best to occupy.

One of the biggest gaps in informal search processes is access to off-market or lightly marketed opportunities. In healthcare property, many of the better options do not sit in plain sight for long. Some are never broadly advertised at all. Owners may prefer a quiet process. Agents may only approach a small number of credible operators. In some cases the opportunity only surfaces after repeated conversations with local owners, agents, and asset managers over time.

Those opportunities are relationship-driven. They usually do not appear because someone ran a quick search and found a vacant suite online. They appear because there has been consistent market contact and enough credibility for people to pick up the phone when the right requirement comes through.

That takes time. It also takes a search process that is not solely geared toward starting documentation and design as fast as possible.

Another issue is sequence. If a tenant begins with fitout thinking before property thinking is resolved, the search can narrow too quickly. The shortlist may be driven by apparent ease of delivery, familiarity, or speed, rather than by long-term location strategy, referral networks, patient accessibility, building services, and landlord appetite. A workable premises can then be mistaken for the right premises.

The same applies to negotiation. In medical leasing, the value is often created in the structure of the deal rather than in the basic rent. Term length, options, exclusivity, landlord works, approvals, services upgrades, contribution timing, rent commencement triggers, expansion rights, assignment terms, and make good can materially change the outcome. If nobody is focused on those points from the tenant side, the occupier can walk into a deal that looks acceptable early and underperforms later.

None of this means fitout providers should be excluded. In many matters they should be part of the team. Their input can be very useful once the shortlist is real and the building constraints are clear. They can help test efficiency, staging, services feasibility, and project cost. But that is different from saying the property search itself should be led by the party whose next revenue event depends on a fitout proceeding.

Healthcare occupiers should be clear on one simple point. If you are not paying an advisor to act for you in the search, you still need to ask who is being paid, when they are paid, and what outcome their commercial model is most likely to favour.

Sometimes the answer will be fine. Sometimes the incentives will still align closely enough. But you should test that assumption rather than accept it.

The better approach is usually to separate the search problem from the delivery problem. First, define the brief properly. Second, test the market broadly, including off-market channels. Third, negotiate the commercial heads of terms. Fourth, bring the design and fitout process in once the right site is identified and landlord commitment is better understood.

That sequence gives the tenant a cleaner decision-making process. It also tends to produce better leverage in negotiation because the occupier is choosing from a sharper field of options rather than trying to reverse-engineer a property decision from a project delivery conversation.

In a market where time, capital, and location quality all matter, free help is not always cheap. Agendas matter. Good tenants recognise that early.

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