Rent reviews and lease renewals
Rent reviews and Lease Renewals
Commercial Rent Reviews and Lease Renewals usually involve Surveyors and Valuers to assess the New Rent applicable to Commercial Premises.
Surveyors may be appointed by the RICS in cases where Leases specify that an Arbitrator or Independent Expert is required. It may be the case that you have the option under your Lease to jointly agree on the appointment of an Independent Surveyor. Surveyline can arrange this for you at no referral cost to the Clients.
advice on the level of rent
Many Surveyline Surveyors deal with Rent Reviews and Lease Renewals on behalf of Clients and can advise on the level of rent by collating and analysing comparable evidence.
CASE STUDY 1
Surveyline was asked to represent a Head Leaseholder of a Large Office Building in Bromley. The Building was sublet at an annual loss to the Client.
We negoitiated a zero increase in rent payable and an increase in the Sub Lessees rent saving the Client a total of £225,000 over the five year review period.
CASE STUDY 2
On a smaller scale we acted for a Garden Centre Tenant who was facing a £20,000 per annum rent demand on review. We negotiated with the Landlords and reduced the Review Rent to £12,600 per annum saving the Client £37,000 over the five year review period.