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.
In our latest market research, KWB Director, Mark Robinson said: “Rents have not been able to increase until this point, however, that’s beginning to change – with lack of supply and continued demand for offices in Birmingham city centre, Solihull and the M42 corridor.
“Understandably, landlords will use this return to form in rent review negotiations with their current occupiers. This shift in power-play sees things go in favour of the landlord, and as such occupiers need to ensure they are protected against unfair rental increases.”
Commercial property leases are very often complex in nature and can cause conflict between landlord and tenant over 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 expiries 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.
An example of how we save you money
See how KWB maximised the office lease break for DLA Piper Birmingham.
Forthcoming lease event? Contact us for a free consultation with impartial advice on the best strategy for you.
Want to know more?
Contact Martin Cook0121 212 5993