Underwoods have recently completed negotiations and documented a lease renewal on behalf of tenant clients saving £450,000 over the term of the new lease. With the current lease not due to expire until March 2016 the occupier can now forecast rental outgoings with certainty over the next 5 years up to the rent review.
The case in point was a lease over an access road, which is not a conventional valuation exercise, but one led by case law and subject to a number of variables linked to the value of the main site. We were consequently able to secure a significant reduction in the landlord’s quoting rent through our negotiations.
The result far exceeded client expectations and goes to show the value in sourcing quality professional advice when faced with a lease expiry or rent review date. Underwoods Lease Advisory department has expertise in negotiating lease renewal terms and rent reviews on behalf of both landlords and tenants across the spectrum of commercial property types.
Posted By: Robert Keeves and Stephen Battersby
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£450,000 Saved for Client upon Lease Renewal
Underwoods have recently completed negotiations and documented a lease renewal on behalf of tenant clients saving £450,000 over the term of the new lease. With the current lease not due to expire until March 2016 the occupier can now forecast rental outgoings with certainty over the next 5 years up to the rent review. The […]
