Advice on securing the best possible result on your rent review needs to have particular regard to the rent review provisions set out in your specific lease agreement.
As a tenant, your negotiations must result in maintaining a predictable and manageable occupational cost through your lease term. The benefit of instructing a rent review specialist will ensure that you minimise a rental increase based on market data and in accordance with your lease terms.
That advice will need to address technical and legal issues as much as comparable evidence, data and market conditions and it is the combination of these skills that best describes our approach to this specialist field.
The first stage to tackle a rent review is to be aware of what the outcome would ‘cost’ the business. For example, an extra £5 per sq ft on 5,000 sq ft for a 5 year term will cost a tenant another £125,000. This may require a substantial increase in turnover to cover these additional costs. Can you imagine the impact on your business if the rent increases by £8 or £10 per sq ft?
To find out more about how Aspire can help you with rent reviews, contact us here
or phone 020 3627 2555