Our Chartered Surveyors determine the value of a site or building in the current market place in accordance with the RICS red book standards at the point of lease break or expiry to aid negotiation between landlord and tenant.
We assess all kinds of commercial property including retail, offices, mixed use and industrial to provide our considered opinion of its rental value.
Rent reviews allow the rent on a commercial property to be adjusted in line with the current market value over the course of the tenancy. Rent reviews typically occur every three to five years in a commercial lease but the rent review clause in the lease terms will set out when each review will take place.
The basis on which the rent will be determined will be specified in each lease agreement and is usually the ‘open market rental value’ of the premises at the date of the rent review but some leases will link the new rent to the increase in the retail price index instead
We will provide a detailed, evidence based report that provides our opinion of the value of the property in question.