Rent Review Case Study - Goodliffe Properties Limited

Challenge

We advised the client on the purchase of the property in 2013 and the 2017 rent review was the first opportunity to seek an increase in the rent.

How we helped

Put forward an in-depth case to support a rental increase, based on evidence amassed in relation to the property and the local market.

Modern warehouses of a comparable size benefitting from high eaves and large secure yards, were in limited supply.

The unit was situated close to the city centre, with excellent transport links.

Negotiated with tenant’s agent to agree a rental uplift reflecting the specification, location and demand profile of the industrial unit.

Handled completion of a suitable rent review memoranda to document the settlement.

Results

Secured 31% rental increase

Achieved over £250,000 of additional income over the remaining terms of the lease.

“We have always been very impressed by the knowledge and professionalism of the team at Vail Williams and when the time came for us to undertake a rent review on our property in Oxford, we knew we could rely on them to deliver. We are very pleased with the outcome of the review which has ensured we are getting the most out of our property over the next few years.

Ian Cracknell, Director, Goodliffe Estates.