Flight Logistics Group Limited
Lease renewal
Two industrial warehouses, Berkshire
Navigated unprotected lease
Negotiated new lease terms
New Lease Negotiation Case Study - Flight Logistics Group Limited
275,000
Reduction in total rent liability to first rent review
Challenge
We were instructed to negotiate lease renewals on both, one of which was contracted out of the Landlord and Tenant Act, with no automatic right to renew.
How we helped
Advised client on difference between the protected and unprotected leases
Successfully negotiated with both landlords’ representatives
Obtained suitable lease terms and rents, lower than the landlord sought
Liaised with client’s solicitors to manage the process throughout
Results
Agreed two 10-year leases with 5- year break options, both commencing with rent free periods
Reduced rent increase at Wokingham premises by over 30% to just 4.6%
Achieved a 10.7% decrease on the rent quoted by the landlord’s representatives for Colnbrook, resulting in 13.3% increase
“Thanks to the technical expertise of Vail Williams’ lease advisory team, we were able to ensure business security by renewing both our leases for a further 10 years, whilst successfully reducing the rent demanded at both premises. A positive outcome all round.” Richard Gaff, Operations Director, Flight Logistics Group Ltd.
Get in touch
If you think you may need similar support to that described here, or you would simply want to have an informal chat with a member of our team to discuss your property needs, get in touch.
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