Circumstances prior to our instruction.
- Small Trading Estate: 16 units let to the local authority and sub-let
- The lease with the local authority was coming to an end
- premises were in very poor condition despite FRI lease
- 9 units occupied, 7 units vacant
- Passing rent
- Sub-rents below market rents
Our instructions from June 2009
- Advise on dilapidations
- Renew subleases on full market terms
- Let the vacant units
- Manage the estate.
Outputs
- Dilapidations settled; six-figure settlement.
- Repairs implemented and estate upgraded
- All sub-tenants transferred to modern FRI leases with service charge and on full market rents
- All vacant units let go despite difficult market
- rent roll increased by over 15%
Please contact our expert team.