The Lease Advisory team here at Parkinson Real Estate (PRE) was recently engaged by a national trade counter operator as Tenant to negotiate a rent review for a 4,900 sqft end-terraced trade counter unit in West Yorkshire. Despite challenging market conditions that favoured landlords, PRE was able to achieve a 20% reduction from the landlord's initial proposed rental.
To achieve this result, PRE's Lease Advisory team conducted a thorough analysis of rents agreed within the area in line with specific rent review and valuation clauses. This enabled them to identify a substantial discount from the landlord's original proposal, which was significantly higher than what unrepresented tenants had been accepting.
By leveraging their market knowledge and expertise in rent review negotiations, PRE's Lease Advisory team was able to successfully negotiate a favourable outcome for their client. The trade counter operator was thrilled with the outcome, which will result in significant cost savings over the remainder of the lease term.
Whether you're a landlord or a tenant, PRE's Lease Advisory team can provide expert advice and assistance with your lease renewal or rent review. Contact Karl Overton to learn more about how the team can help you achieve your leasing goals.
Karl Overton BSc (Hons) MRICS
Senior Surveyor – Lease Advisory
M: 07852 256 923