28th March 2017
Commercial rent reviews make comeback
Following the 2008 market downturn, rent review activity fell to an all-time low, except in Greater London and other parts of the South East. In fact many commentators speculated that 2008 signified the end of open market rent reviews. However the buoyancy of the regional occupier markets over the past two years has fuelled a comeback in rent review activity in most sectors.
On the whole the upturn in activity is good news for landlords, but not every commercial investment property has become reversionary, and the advice of experienced practitioners is required to interpret lease provisions and transactional evidence, and advise on negotiating strategy.
The timing and tactics of rent review implementation are key to the outcome for both landlords and tenants, and early advice is recommended to avoid being caught out by changing market conditions or damaging rental evidence.
Our Lease Advisory team provides advice to both landlords and tenants across the UK in the business space and retail sectors.