Unit 2B Tannochside Park, Uddingston
Large standalone warehouse extending to c. 33,200 sq ft and comprising both warehouse and office space, subject to a rent review which assumed a short assumed term. Landlord was keen to remove tenant break option.
To negotiate a rent review settlement whilst retaining the tenant break option and avoiding the rental enhancement justified by the short assumed term.
- Careful negotiations with the landlord’s representative
- Thorough market research of similar transactions
- Settlement at a mutually agreeable reviewed rent, avoiding cost and risk of arbitration
A reviewed rent was agreed at a lower rental level than reported and justified when considering such a short assumed term.
- The client retained the future break option
- Client now alert to the potential issues when drafting rent review clauses, as regards notional lease term to be assumed at rent review
- Avoidance of third party referral