Project
Our lease advisory team was instructed to act on behalf of the tenant of a garden centre in Leighton Buzzard during a contested rent review. With the landlord seeking an uplift in rent and negotiations between the parties failing to reach agreement, the matter was referred to an independent expert for determination.
We were appointed to provide strategic advice throughout the process and to act as expert witness in support of the tenant's position, ensuring the valuation methodology adopted was consistent with both market reality and the precise wording of the lease.
Approach
Acting on behalf of the tenant, our RICS-registered specialist Kimberley Gould provided strategic lease advisory guidance from the outset of the review. Her work included:
- Detailed analysis of local and sector-specific comparable evidence, critically examining the transactions relied upon by the landlord
- Assessment of the relevance and appropriate weighting of market transactions in the local area
- Careful interpretation of the lease terms to ensure the review was assessed correctly in accordance with the lease provisions
- Preparation of a comprehensive submission to the Independent Expert, presenting clear and reasoned valuation evidence to support the tenant's position
- Expert witness representation, with professional opinion delivered in accordance with RICS guidance
Results
Following consideration of submissions from both parties, the independent expert determined that there should be a nil uplift at the rent review, which was the best possible outcome for our client.
"From start to finish, I felt hopeful that my case was being handled professionally by Kimberley. She explained things well and also laid down the possible outcomes. Emails and phone calls were exchanged throughout the process. I am extremely grateful and relieved that the case went in our favour and I would highly recommend Kimberley and this company to anyone seeking the same service."
"Rent reviews of this nature require a thorough and methodical approach. By rigorously analysing the comparable evidence and ensuring our submission was firmly grounded in both the lease terms and market reality, we were able to present a well-reasoned case on behalf of our client. A nil uplift outcome reflects the strength of that work."
Why choose BTG Eddisons for lease advisory support?
Rent reviews can have a significant impact on the long-term financial performance of your business, particularly in a challenging occupational market. Early strategic advice and robust valuation evidence are key to achieving the right outcome.
When you instruct our lease advisory team, you benefit from:
- Over 180 years of industry experience in commercial property advisory
- RICS-registered specialists who work to the highest professional standards
- Local market knowledge backed by national coverage across 35 offices throughout the UK
- Expert witness capability and experience in third-party determination proceedings
- A proven track record of success, with consistent positive reviews to back it up
Get strategic lease advisory advice today
If you are approaching a rent review or facing third-party determination, our lease advisory team would be pleased to discuss how we can support you. Simply complete the form below to arrange a consultation.
