10th June 2019
149% Rent Increase Achieved for Private Landlord
Our client, a former pharmacist, had not taken specialist advice when he sold his pharmacy to a major multiple and granted them a lease for the pharmacy premises adjacent to a large health centre.
149% Rent Increase Achieved for Private Landlord

We were instructed to advise on the rental value at the first rent review on the fifth anniversary of the lease. Endeavouring to reach a negotiated settlement we tried to engage with the Tenant, but unfortunately they were unwilling to accept our proposal.  

Following consultation with our client regarding the process and costs involved, we referred the matter to a third party determination via the RICS in accordance with the lease. 

A Calderbank offer letter was submitted by the Tenant, but we advised our client to reject it.

Our judgement was proved correct when the determination was published and our client was delighted with the result, representing a 149% increase in rent.