Re-gear Of Existing Lease Of Retail Warehouse in Stevenage. 

Our client originally approached us to negotiate a rent review. The case for an increase was very marginal and it was decided that it was not worth pursuing. We considered if there were any other ways to be able to add value to our client’s property.

How We Approached The Project

The tenant’s lease was coming to an end in a few years’ time. In addition, the tenant was not using all of the site so we approached and the next door (a budget supermarket operator) to find out if they were interested in expansion land.

How We Achieved The Project

We assessed the increase in capital value that a lease extension would release for our client to establish the sum that could be offered to the tenant to incentives them to extend the lease. At the same time negotiations with the tenant and the next-door occupier took place and terms were agreed for the surrender of part of the tenant’s site and the sale to next door.

We achieved an uplift in capital value for our client as well as a significant sum above market value for the surplus land.