Project
Between 2023 and 2024, Kirkby Diamond, now part of BTG Eddisons, was instructed by two long-standing occupiers of industrial units at Albone Way, Biggleswade to provide expert lease advisory services.
The clients, occupying units ranging from 11,018 sq ft to 22,696 sq ft on the industrial estate, required professional guidance on an outstanding rent review and forthcoming lease renewals. Both occupiers needed to ensure they secured fair market terms while maintaining their established operational bases in Biggleswade.
Approach
Our lease advisory team conducted a comprehensive analysis of the local industrial property market to establish accurate rental values for the units in question. This market research was essential to challenge the landlord's initial proposals and ensure our clients were not overpaying for their premises.
We led negotiations with the landlord on behalf of both occupiers, presenting robust evidence of current market conditions and comparable rental values for similar industrial properties in the Biggleswade area.
Our approach balanced the need to secure favourable terms for our clients while maintaining positive landlord-tenant relationships, recognising that both occupiers intended to continue their long-term occupation of the estate.
The project timeline was particularly challenging, as racking installation for the new tenant proceeded simultaneously with heavy civil engineering work on another section of the building. This required meticulous project management to ensure the tenant could meet their fixed move-in date and commence fit out operations.
Results
Through skilled negotiation and detailed market analysis, we achieved market-facing rent savings for both clients, successfully reducing the landlord's initial rental proposals to levels that accurately reflected current market conditions.
Both long-standing occupiers secured lease renewals on favourable terms, enabling them to continue their operations at Albone Way with the certainty of fair rental levels. The successful outcome protected our clients' business interests while ensuring their continued presence on this established industrial estate.
“Achieving fair market rents for long-standing tenants requires detailed local market knowledge and skilled negotiation. We were pleased to secure positive outcomes for both occupiers, ensuring they could continue their businesses at Albone Way on terms that reflected true market values.”
Why do clients choose BTG Eddisons for lease advisory services?
When you need expert advice on rent reviews or lease renewals, we provide comprehensive support to ensure you secure the best possible terms. With over 180 years of industry experience and a proven track record, we believe we are a great choice for lease advisory. Some other reasons we are trusted include:
- We are RICS-certified to ensure we meet strict industry standards
- We are highly rated by past clients
- We combine local knowledge with national coverage to inform our decisions
- We operate from 35 offices across the UK, providing regional expertise
Get expert building consultancy advice today
If you are facing a rent review or lease renewal and need professional guidance to secure fair market terms, our specialists are here to help. Simply complete the form below to get started.
