SERVICES PROVIDED

  • Rent Review settlement and surrender of upper residential flat.

CHALLENGE

  • Our initial instruction was to deal with the rent review on behalf of the tenant.

STRATEGY

  • Colliers International saw an opportunity to surrender the upper residential flat back to the landlord thus saving void, management, letting fees and management costs. The surrender of the flat was achieved at no cost to the tenant.

KEY FACTORS

  • Rental valuation undertaken of the ground floor in addition to incorporating the residential flat above
  • Detailed negotiations undertaken with the landlord’s surveyor
  • Nil increase settlement on rent review
  • Surrender of flat to Landlord at a nil cost to the tenant

RESULTS

  • Cost savings to tenant in the region of £35,000 over the remainder of the term.