A Rent Review event in a lease requires specialist advice. Traditionally leases provided for an ‘upwards only rent review’ where the rent could increase or remain at the passing level. Since the introduction of Section 132 of The Land and Conveyancing Reform Act 2009 which came into effect on 28th February 2010, new leases are prohibited from including upwards only provisions with most providing for rent reviews to open market rent.
At TWM we have a highly experienced team with an in depth knowledge gained from their work in this field over many years. Our service includes:
- Lease and Rent Review clause analysis
- Implementing/responding to Trigger Notices
- Property inspection having regard to location, profile, adjoining occupiers and suitability for purpose in the market at the review date
- Property measurement in accordance with SCSI/RICS Measurement Practice Guidance
- Apply market intelligence and analyse market evidence
- Provide an opinion of rental value with comparable evidence and a recommended strategy
- Engage in negotiations
- When necessary represent the client through Written Submissions/Précis of Evidence/Oral Hearing to Independent Experts/Arbitrators
- Document through execution of Memorandum of Rent Review
Tesco Ireland Limited, Marks & Spencer, NEXT, Inditex, Arcadia Group, Argos
M: + 353 86 381 1225
M: + 353 86 823 8199
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