Background
- Wignalls instructed to undertake an assessment of the Market Rental
- Tenant currently “holding over” on previous agreement.
- Landlord has proposed new terms. NHS organisation requires Market Rent assessment and scrutiny of the proposed terms.
- Wignalls provided a Market Rent valuation to support the new rental.
Key data:
- Address: Halifax
- Landlord: Corporate Landlord
- Tenant: NHS Organisation
- Event: Market Rent Assessment to enable lease negotiations
Settlement
- Negotiations concluded and comparable evidence discussed
- 2020 Rent Review provisionally agreed at £215psm (Landlords offer £230psm)
- Lease Renewal provisionally agreed at £228psm (Landlords Offer £270)
- 2020 review – negotiations provided a saving of £15,000 per annum or £75,000 of “back rent” over the last 5 years up to the end of the lease.
- 2024 Lease Renewal – terms agreed. Providing a saving of £350,000 over the term of the new lease.
