Rent Review Case Study - Pulsant Limited

Challenge

We were appointed to negotiate a rent review after our client was quoted a rent increase of 107% by the landlord who wanted a premium value for the property which, although an industrial/warehouse unit, was being used as a data centre.

The proprietor of the property was the former owner of the business, which was now owned by our client, adding complexity to the case.

How we helped

Undertook market valuation taking into account the fact that the property was a converted warehouse, not purpose-built data centre

Successfully argued a suitable rental tone based on local industrial values

Used third party process to encourage settlement

Results

Negotiated settlement amicably

Rent increased by just 14.3%, well below the landlord’s quote of 107%

Saved our client approximately £815,000 in rental uplift to the next rent review, over the course of the remaining lease

“We are grateful for the market knowledge that Vail Williams brought to our rent review, and the perseverance with which they fought our case, which resulted in them successfully reducing the amount of rental uplift by over 90%.”

Ricky McCracken, Commercial and Legal Director, Pulsant Limited.