Lease Advisory Department sees Record Growth.
Roger Hannah & Co.’s Lease Advisory department have been expanding their network of deals throughout the year and we are delighted to announce this has resulted in record growth.
Having dealt with rent reviews, lease renewals, re-gears and lease acquisitions on behalf of clients covering all four corners of the British Isles from North to South East and West, our key results and achievements on this year’s nationwide instructions include:
- Manchester: Acting on behalf of a Private Property Investment Company and owners of a number of trade counter units, we successfully negotiated new rent terms for a 5 year lease with a national operator for a 13,500sqft unit, achieving an overall increase of 9.4% in the annual rent.
- Montrose Scotland: Advising the tenant on rent review and ultimately agreeing nil increase on a passing rent of £19,500pa.
- Bournemouth: Advising on a ground rent review on a long leasehold investment let to a National Ready Mix concrete manufacturer and ultimately agreeing an increase in annual rent £20,000pa a massive increase of 32%.
- Doncaster: Acting on behalf of an Investment Company and owners of a large Warehouse and Distribution Centre in South Yorkshire we successfully negotiated renewal terms for a new 10 year lease to a National Cold Store and Food Distributor, achieving a rent in excess of £225,000 and an overall increase of 8.75% in the annual rent.
- Bangor North Wales: Acting on behalf of the landlord of a trade counter unit let to Screwfix agreeing a new rent on lease renewal reflecting an annual increase of 11%.
- Dartford South London: Acting on behalf of a tenant in rent review negotiation with the Landlord and agreeing a reduced rent 15.6% lower than the Landlord proposal.
- Bristol: Agreeing a lease re gear on behalf of an occupier of a large industrial unit foe a new 10 year lease nil increase in rent and an additional 6 months’ rent free.
- Maidstone Kent: Agreeing a lease extension on behalf of an occupier for a further 5 years with a nil increase in rent.
- Warrington Cheshire: Acting on behalf of a client to acquire a large headquarters office building and negotiating competitive terms for a new 10 year lease.
- Reading: Acting on behalf of a tenant in rent review negotiations with their landlord and ultimately agreeing a rent of £101,200 which represented a 5% decrease in the landlord’s proposal.
- Lisburn Norther Ireland: Providing rental advice to a retained client on a large industrial unit for lease renewal purposes.
- Heathrow London: Acting on behalf of retained clients in the acquisition of a new regional facility. The new build unit extends to 30,000sqft with extensive storage yard and on site facilities; new lease terms were agreed for a 15 year term at a rent commencing in excess of £370,000pa.
- Carlisle Cumbria: Acting on behalf of a landlord in a re gear of a lease for a large industrial complex at Kingmoor Industrial Estate let to Cumbria Waste agreeing a new 20year lease with incorporating a stepped rental agreement producing a 10% increase in income.
At Roger Hannah & Co, we feel it is essential to keep pace with market transactions and the ever changing nature of case law affecting Landlord & Tenant relationships.
As the terms of your lease will have a controlling and financial impact on your business, our dedicated Lease Advisory Team have many years of experience, coupled with in-depth technical and market knowledge to deal with all commercial Landlord & Tenant matters.
We are advising clients across all sectors of the Local, Regional and National property markets and can help by delivering expert advice on any rent reviews, lease renewals, restructuring/re-gearing or surrender of leases, assignments and sub-lettings as well as general advice on all lease related matters including Landlord & Tenant disputes.