Representation in commercial rent reviews and lease renewals, acting for landlord or tenant across office, retail, industrial and leisure property — from first analysis of the evidence through to third-party determination if it goes that far.
A rent review or lease renewal is, in the end, an argument about evidence. The rent is whatever a willing landlord and a willing tenant would agree in the open market on the review date — but that figure is reached by reading the lease carefully, assembling the right comparables, and presenting them in a way that withstands scrutiny. We have spent twenty years doing exactly that, for landlords and tenants in roughly equal measure, which means we know how the argument looks from both sides of the table.
We act on offices, shops, retail warehouses, industrial units, trade counters and leisure premises — single assets and whole portfolios. Most matters settle by negotiation. The ones that don’t are decided by a third party, and we prepare every case from the outset as though it will be, because that is the only way to negotiate from strength.
At review, the rent is re-set in accordance with the terms of the lease — usually to open market rental value on hypothetical assumptions and disregards that the lease itself dictates. The drafting matters enormously: assumed lease length, whether improvements are disregarded, user and alienation provisions, and the treatment of incentives in the comparable evidence can each move the figure materially. We read the review clause first, then the market.
Most business tenancies renew under the Landlord and Tenant Act 1954, Part II, which gives a qualifying tenant the right to a new lease and sets the framework for the terms and the rent. We advise on the statutory timetable, the section 25 and section 26 notices that start the clock, the interim rent payable while terms are agreed, and the modernisation of lease terms the Act permits. Where a landlord opposes renewal on one of the statutory grounds, we advise on valuation and, where relevant, compensation for disturbance.
If the parties cannot agree, the dispute is referred for determination — by an arbitrator or an independent expert under the rent review clause, by the court on a 1954 Act renewal, or through PACT (Professional Arbitration on Court Terms), which routes a renewal to a surveyor rather than a judge. We prepare and present the case throughout: the statement of case, the evidence, the response to the other side, and the representations at the hearing. Because the file is built to that standard from day one, a credible threat of determination is often what settles the matter on sensible terms.
Every instruction is director-led from start to finish — the surveyor who analyses the evidence is the one who negotiates and, if needed, makes the representations. We are deliberately candid about the number: if the review is better settled than fought, we will say so, and if there is genuine value to defend, we will defend it. Fees are agreed in advance and we are happy to discuss conditional and capped arrangements on the right instruction.
Both, and in roughly equal measure. Acting for each side over twenty years is precisely what lets us read a review the way the other party will. We only ever act for one side on a given matter, and we check for conflicts before taking an instruction.
Often, yes. An upward-only clause means the rent cannot fall below the passing rent, but it can still be held there rather than rising. If the evidence does not support the landlord’s proposed increase, a well-evidenced case can keep the rent at its current level — which on a large unit is a substantial saving over the remaining term.
When a 1954 Act tenancy continues past its contractual expiry while a new lease is negotiated, an interim rent is payable for that period. It is assessed separately from the new rent and can differ from it. We advise on what the interim rent should be and when it is worth fixing by application.
The lease will specify referral to an arbitrator or independent expert; a 1954 Act renewal can be determined by the court or, by agreement, through PACT. We prepare the case from the outset to that standard and represent you throughout, so that the prospect of a determination strengthens rather than weakens your negotiating position.
Fees are agreed in advance of any work. Depending on the instruction we can act on a fixed fee, a time basis, or a conditional or capped arrangement linked to the saving or uplift achieved. We will recommend the basis that is fairest for the matter in front of us.
