Professional Services
Bartlett Property acts for both landlords and occupiers of commercial property and
advises on both the outcome and tactics of rent reviews and lease renewal proceedings under the Landlord and Tenant Act 1954. We understand that business tenancies and the respective rights of Landlords and Tenants can be a minefield.
We also understand that our clients retain us not to identify issues but to resolve them! We don’t believe in making you make the decision, we hope to guide you to the best decision.
We combine professional probity with commercial astuteness to negotiate absolutely the best outcome!
Bartlett Property carries out valuation advice for investors, owners and corporate
occupiers to offer sound market advice coupled with the technical ability.
Key Professional Services
- Rent Review Negotiations
- Lease Renewal Negotiations
- Development Appraisals and Viability Analysis
JF Noble, Bedfont, West London.
We were instructed on behalf of the Landlord on the rent review and assignment of the lease on car dealership premises.
The tenant, a substantial motor dealer group covenant, wanted to assign its lease to a New co. The lease had 6 years left to run with a rent review in a year’s time and had significantly been improved and extended by the existing tenant, the value of which had to be disregarded on rent review. The tenant eventually offered a 25% increase in rent subject to the landlord permitting assignment of the lease with the new tenant taking on the benefit of the disregard of improvements. The liability for dilapidations was also to pass to the new tenant, with the existing tenant excluded from any liability for any pre existing contamination on site.
Following extensive negotiations and as a result of our knowledge of business
tenancies and the respective rights of landlords and tenants, as well as our
transactional expertise within the sector, we were able to agree a 50% increase in the rent, payable immediately (1year prior to rent review). We also negotiated the surrender of the current lease and re-grant of a new lease for 20 years to the new tenant guaranteed by a substantial vehicle manufacturer covenant. The newly demised premises included previous improvements with the liability for pre existing contamination and dilapidations to remain with the tenant. An obligation for the tenant to “put” the property into repair was also imposed.