Rent reviews, lease renewals and lease restructuring
After several years of rental decline or, at best, stagnation since the ‘financial crisis’, we are now witnessing some rental growth in the regions. This is giving landlords the opportunity to increase rental levels at lease renewal or rent review. It is, therefore, very important that professional advice is taken at an early stage before entering negotiations.
Commercial property leases are very often complex in nature and can cause conflict between landlord and tenant over the interpretation of the terms and, in particular, when reviewing the rent or agreeing new terms at the expiry of the lease.
Our services include:
- Rent reviews
- Lease expiry and renewals
- Dispute resolution – acting as expert witness in rental valuation disputes, including referrals to arbitrators and independent experts
- Lease restructuring – re-gears, surrenders and renegotiation
- Lease due diligence
- Rental valuation advice
We give sound, well-informed advice based on up-to-date market values and our knowledge of the relevant legislation. We work closely with our commercial property agency team and you can be sure of an unbiased and impartial opinion as to where you stand.
We will advise on the best strategy to be adopted for either party, from ensuring that notices are served correctly, right through to final negotiations and liaison with their solicitors. We endeavour, at all times, to conclude negotiations in the most time and cost effective way possible.
We are also experienced in preparing arbitration and independent expert reports, as well as expert witness representations, should it be necessary to refer a review or renewal for third party determination. We also have members of the Chartered Institute of Arbitrators and members on the RICS panel of arbitrators and experts.