Acting for either the landlord or tenant, we provide commercial rental valuations to determine the market value of a commercial premises to aid negotiations between landlord and tenant regarding rent reviews in commercial leases.
Rent reviews allow the rent on a commercial property to be adjusted in line with the current market value over the course of the tenancy. Rent reviews typically occur every three to five years in a commercial lease but the rent review clause in the lease terms will set out when each review will take place.
The basis on which the rent will be determined will be specified in the lease agreement and is usually the market rental value of the premises at the date of the review.
Our service includes
- Initial advice in respect of an upcoming rent review
- Inspection of the property
- Reporting the market rental value at the applicable valuation date
- Negotiation with the other party (landlord or tenant)
As a multi-disciplined firm, we can offer our clients a 360 degree consultancy and have a wide range of in-house expertise to call upon should further specialist input be required including property management, commercial lease renewals and acquisitions.