Rent Review at Boulton Road, Stevenage
March 30, 2022
Boulton Road, Stevenage - 6,000 sq ft industrial Unit
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Overview |
Our lease advisory surveyors were instructed to act on behalf of the tenant in connection with an upcoming rent review. In a rising market the tenant was facing a considerable increase in rent and the landlord had served notice to increase the annual rent £43,000 to £60,000. |
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Result |
Through meticulous appraisal of the local market, our surveyors were able to obtain rental evidence from other comparable units that supported a lower annual rent than that proposed by the landlord. After a period of negotiation with the landlords advisors an agreement was reached and the rent review was settled at £51,561 per annum. With 5 years left to run on the tenants lease we managed to save the tenant £42,195 in rent. The tenant was pleased with the outcome and we are now in touch with neighbouring occupiers to assist with potential rent savings on upcoming lease events across Stevenage. |