Our client owned a mixed-use property at Church Street, Twickenham, comprising both retail and residential units. The primary objective was to secure an increase in rent at the scheduled rent review, ensuring that the property’s income reflected current market conditions and maximised value for the landlord.
During the process, a key challenge emerged when one of the residential flats was found to be vacant and in a dilapidated condition following long-term occupation by a regulated tenant. The tenant’s surveyor argued that no rent should be attributed to this flat on the basis that it was uninhabitable, which posed a significant risk of undervaluation and could have materially reduced the overall rent review outcome.
Our Approach
To address this, we undertook a detailed examination of the rent review clauses within the lease. It became clear that the property should be assumed to be “fit for immediate occupation and use.” On this basis, we successfully argued that a fair market rent should still be applied to the vacant flat, notwithstanding its physical condition. We also carried out thorough research into prevailing market rents for comparable retail and residential units in the Twickenham area, providing a strong foundation for our position.
Armed with this analysis, we entered negotiations with energy and determination, approaching the matter as if it were our own property. This proactive strategy proved highly effective, and we were able to achieve a healthy increase in rent for the landlord, with uplifts secured across all five units held under the lease.
This demonstrates the importance of careful attention to lease provisions, rigorous market research, and dynamic negotiation. By combining these elements, we delivered an excellent result for our client, one that not only enhanced the property’s income but also reinforced its long-term investment value.
Our client sought a lease renewal for a trade counter unit on an industrial estate, occupied by Wolesley Plumbing. Their objective was to secure the...