Rent Review

We combine our deep understanding of the market place with an analytical approach to the evidence in relation to the building, specification, location and lease terms; relying upon case law precedent to win key technical points.  A rent review is naturally a good time to establish a dialogue between landlord and tenant on any mutually advantageous existing lease terms – inserting or deleting break options, extending the term etc. 

Negotiated settlements are desirable, but not at any cost.  Our robust approach to negotiations is backed by our ability to act effectively as expert witness in the arbitration process.

Case Study

Baynard House, Queen Victoria Street, London EC4

This is a 1970s telecommunications centre of nearly 340,000 sq ft to be valued as a warehouse within Use Class B8.  Acting on behalf of BT plc, Allsop was instructed to respond to the landlord’s proposal to increase the rent by 40%.

Rent reviews require a deep understanding of the market with an analytical approach to the evidence, specification, location and lease terms.  This case was no exception as the rent review clause was poorly drafted and it was necessary to liaise with the client’s lawyers to ascertain the correct position.  It is vital to understand your negotiating position at the outset in order that the right strategy and tactics are employed.

By carrying out detailed and lengthy research into the evidence and supported by the legal advice, a strong rebuttal could be put to the landlord.  By preparing our case fully before entering negotiations, we were able to secure a nil increase for BT.  This saved in excess of £1.6m over the period to the next review.