020 7487 4451

London's leading rent review & lease renewal specialists for industrial & warehouse units

For over 50 years we have been representing Tenants occupying Industrial and Warehouse units faced with a rent uplift throughout all London areas and the Home Counties, protecting them from any unwarranted increase.

 

 

get in touch

Request a call back

Leave your name and number and we’ll call you for a no obligation chat about how we can help.

8 + 4 =

London & M25 Industrial Property
2019-2021

During the past five years, prime headline rents for industrial and warehouse units have risen irrespective of size, some by as much as 5% per annum. Limited supply has driven rental growth and not withstanding Brexit will likely continue during 2019-2021.

Supply remains modest, and despite a relatively sluggish economic outlook in the UK, the fundamentals for Industrial and Warehouse space continues unabated. The loss in some areas of industrial in favour of residential development has exacerbated the problem and forced rents to rise.

However if you are a Tenant facing a rent review or lease renewal in London or any of the Home Counties of between 1,000 sq.ft and 150,000 sq.ft do talk to us NOW without charge, and let us explain how as specialists we can cost effectively protect and improve your position.

Rent Reviews

Commercial property leases normally have a provision for a rent review where at a specified date, the Tenant may receive a proposal from the Landlord to adjust the rent to what they believe is the current market level. Rent reviews take place at whatever intervals are agreed in the rent review clause(s) in the commercial lease however most leases specify that in order to prevent Landlords proposing excessive increases, the rent should be based upon the open market rental value. Tenants have the opportunity to oppose the proposed increases should there be no justification or evidence to support a lower rent than proposed.

Lease Renewals

When a commercial lease expires, Tenants have an option to either vacate the premises they occupy or begin the process of renewing the lease. There are many potentially complicated aspects which need to be taken into account however a crucial factor will be to determine whether the lease is within the 1954 Landlord and Tenant Act which offers Tenants the legal right to renew the lease and strengthens their negotiating position. An in-depth knowledge of the current market rents is also crucial when agreeing terms. A lease renewal can be triggered by either the Landlord or Tenant by serving a Section 25 or 26 Notice and legal advice will be required in order to do so.

Rent Negotiation

Most rent reviews and lease renewals are agreed via a process of negotiation as opposed to arbitration. Both the Landlord and Tenant will seek comparable evidence in order to justify their proposals and present their findings to each party in order to commence a negotiation. Tenants will seek and require the lowest possible comparable evidence in order to strengthen their negotiation position which will be used when negotiating with either the Landlord or their representative. The lease is also crucial to any negotiation as there may be clauses contained within which affect the bargaining power of one or both parties.

Dispute Resolution

On occasions when rent negotiations fail, a Commercial lease will include provisions for Arbitration or Expert Determination. Either a Landlord or Tenant can apply for the appointment of a Third Party by seeking from the Royal Institution of Chartered Surveyors (RICS) for either an Arbitrator or Independent Expert to be elected. Both parties will have the opportunity to put their case via a written submission to the Third Party who will eventually determine the rent. The decision of the Third Party regarding the revised rent is final and both Landlord and tenant must accept the result.

FIVE REASONS TO CHOOSE RICHARD LIONEL & PARTNERS

FREE LEASE ANALYSIS

Take advantage of our initial free lease analysis service available to all potential and existing clients.

EXPERIENCE

With almost 50 years of rent review experience we are able to ensure the best results possible.

DATABASE

Our comprehensive property database is available and a vital tool for all rent reviews and lease renewals!

COST EFFECTIVE

We offer competitive cost effective fee structures which include ‘performance’ based and/or fixed fees.

PERSONAL ATTENTION

Our dedicated rent review team promise personal attention at all times offering creative solutions and advice.

Get in touch

Please fill in the form and one of our rent review specialists will contact you for a no obligation conversation in the strictest of confidence in order to advise and assist with your rent review or lease renewal.

Please do contact us and let us explain how we work, and how you can benefit from our experience and expertise.

How can we help?

6 + 9 =

WHO WE ARE

London’s Leading Rent Review and Lease Renewal Specialists who for over fifty years have acted for both Landlords and Tenants ensuring the very best commercial property results.

SEARCH THROUGH OUR WEBSITE
CALL ME
+
Call me!