SERVICES PROVIDED

  • Rent Review Settlement

CHALLENGE

  • Our instruction was to deal with the rent review on behalf of the tenant.
    Rent Review effective 4 November 2008, Landlord (represented by the Landlord’s in-house surveyor) quoted a revised rent of £85,300 per annum against a passing rent of £75,500 per annum.

STRATEGY

  • Colliers International advised the client that based on market evidence they should expect an increase in the rent however, due to careful, tactical negotiations we were able to successfully argue for a Zone A rate below the established tone in addition to a discount for potential blight as a result of a proposed retail development within the city.

KEY FACTORS

  • Rental valuation undertaken of the demised premises
  • Detailed negotiations undertaken with the landlord’s surveyor
  • Discount achieved for potential blight
  • Zone A rate achieved below established tone within shopping centre

RESULTS

  • As a result we were able to achieved a reduced uplift in the rent of only £3,800 per annum resulting in a saving over the remaining term of £30,000.