Business Property Advantage

11/11/2024

Have an interesting instruction currently.

A retailer client has been occupying a property for over 10 years at a significant rent. The lease has expired and the retailer has been asking their landlord informally for a new lease for some years without any success.

On reviewing the property, the rent paid, and the terms of the lease, it was apparent the rent was indeed well above market levels, confirming that the lease could be renewed at a lower, market rent, under the Landlord & Tenant Act. if needs be.

On approaching the landlord again informally, he quickly became evasive and dismissive and sought to hide behind his solicitor who was 'dealing' with the matter.

Hower his behaviour was suspicious and an examination of the title documents has explained his attitude - they showed that he wasn't in fact the owner of the property and could not be the legal landlord either in the future or now!

This has raised a number of issues that we have recommended our client takes legal advice on, as they would have been advised to do before entering into any legal contract. Meantime we have appointed an Enquiry Agent to establish the present address of the registered owner of the property so the renewal can be formally progressed.

If you have problems or concerns with the behaviour of your landlord call us now on 07710031477 for a no obligation dicussion.

07/11/2024

Do you think you are paying service charges for services you are not receiving? This client thought so and sent over pictures of the site in question and an extract of theor landlord's service charge budget.

This has led to formal queries being raised in relation to the present years' service charge and the intention for next year....

If you have such concerns call us now on 07710 031477

03/11/2024

Meeting with our client who I am advising for his lease renewal which is due early 2025.

A rental valuation of a property needs to be tailored to the specific purpose. For example, a rent review valuation requires a different approach to a lease renewal. Not everyone does that.

Our inspection revealed significant improvements undertaken by the business that should be disregarded when assessing the market rent at lease renewal under the security of tenure provisions of the Landlord & Tenant Act 1954 (Part II) as amended.

Unsurprisingly the landlord’s surveyor has not taken the improvements into account when arriving at their valuation.

If you are facing a lease renewal whether or not the landlord has given you formal notice, it's alway advisable to get our early advice.

This instruction is a referral to us from another client. You can call Andrew now for an early ‘no obligation’ discussion

03/11/2024

Recently completed a lease renewal for a convenience store owner. This resulted in a modest rent increase and improved lease terms for the future. Here's what our client has to say....

28/03/2023

Andrew has been a breath of fresh air to work with and has tackled some of our more complicated matters in an extremely professional and pragmatic manner.

He has an ability to hit the ground running and has quickly become part of the team. Andrew is clearly an experienced operator and his wealth of knowledge will benefit any organisation that has a portfolio of properties.

28/03/2023

Recent testamonial

As you know Andrew came in as a contractor to see us through the recruitment period and he has certainly left his mark. I have been impressed with the number of activities we have been able to progress over the few months he’s been with us.

Martin and Andrew are ensuring a comprehensive handover currently before Andrew leaves for his next assignment.

Thank you very much Andrew.

06/12/2020

https://apple.news/A7CRF6a74TYKHjjTkjtKCng

Very interesting reflections.

Offices surely are not the way forward for John Lewis' London Store

Last paras – lower rents encourage entrepreneurs and risk and diversity… back to market town mix?

As retail chains fade, town centres may have to find other ways to attract custom.

05/12/2020

Simple & Easy!

18/11/2020

https://hrnews.co.uk/unused-office-space-after-coronavirus-could-cost-london-businesses-almost-13bn/

Big problem - we can help

Unused office space after coronavirus could cost London-based businesses almost £13 billion according to a new report by SpaceThreeTwo, a new office

18/11/2020

So what's current in Corporate Real Estate?

Well previous un-thinkables and Sacred Cows are now under review.... here's an example...

https://lnkd.in/dX7A-zK

We are being called in to review property costs of organisations that see no prospect or need to re-occupy office space in the short to medium term. Some are looking for easy financial wins, others for a step change in how they work - it's not just about the money.

AND there is a role for the office - but what will it look like?

Every situation is different and will have different opportunities. We have vision and insight to assist.

Who do you know that wants to do something about their 'dead' work space. Contact Pegg BSc MRICS now

The Lloyd’s of London underwriting room could be shrunk after a review of the future of the trading hub that is at the centre of the world’s oldest insurance market.Lloyd’s is to start a consultation

24/03/2020

Call me now if you need help speaking with your landlord or formulating a payment plan. Tel: 07710031477

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