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Lease Renewal Expert Determination

  • Instructions received from Tenant to represent them in lease renewal proceedings on their retail premises in Oxford
  • Landlord proposed a significant rent increase - to £93,000 per annum
  • Landlord sought to value the upper floors as a hotel
  • Tenant had converted to hotel use, but documented as tenant’s improvements less than 21 years previous - therefore to be disregarded
  • We were instructed to present submissions to an Expert to determine the rent
  • Determination agreed with our case and disregarded the improvements thus valuing the upper floors as ancillary
  • Expert’s Determination at £79,600 per annum - saving the tenant £67,000 until the first rent review and also providing a basis for valuation

Chartered Surveyors

Raeburn Consulting

With over 50 years combined experience we are the property experts to help you.

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