Rent Review

Rent review in Palmers Green, London N13

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The client

Newman Webb settled an outstanding rent review, acting on behalf a tenant.

The issue

The passing rent was £24,000 a year but the landlord served our client with a rent review notice, proposing an increase to £28,000. The landlord had made an application for the appointment of an Arbitrator to determine the rent payable at the rent review date.

Our approach

We inspected and measured the subject property, reviewed a copy of the lease, searched and analysed comparable retail transactions in the to the client with our opinion of the market rent at the rent review date.

The result for our client

After lengthy negotiations with the landlord’s surveyor, we agreed to a rent of £26,000 a year without having to proceed to Arbitration. This gave our client a saving of £2,000 against the initial rent proposed by the landlord, equating to a saving of £10,000 over 5 years until the next rent review.

Rent review in Winchmore Hill, London N21

Case Studies_0008_9 Wades Hill

The client

Our clients were tenants of a commercial property in Winchmore Hill. Newman Webb was appointed to act on their behalf on an outstanding rent review.

The issue

The passing rent was £16,500 a year but the landlord served our client with a rent review notice, proposing an increase to £18,000.

Our approach

We entered into negotiations with the landlord’s surveyor, arguing that the user clause in the lease was restrictive and further restrictions on alienation and alterations clauses in the lease served to have a depressing effect on the market rent. In our opinion, these factors meant there should be no increase in rent.

The result for our client

After lengthy negotiations with the landlord’s surveyor, we were able to agree to a nil increase, saving our client £4,500 over the 3 years to the expiry of the lease.