FHP SECURE 50% RENT INCREASE FOR LANDLORD!

Professional Services News

FHP Property Consultants have successfully completed a rent review on a convenience store let to Co-operative Food within the Chapelside Parade in Spondon, Derby. 

On behalf of a private landlord FHP were able to increase the rent by a staggering 50% with effect from September 2010.

Adam Wilson, Associate Director of FHP Property Consultants commented: “what this rent review shows is that whilst we are experiencing challenging market conditions, all is not lost.  There are instances where historic rent reviews have not been reviewed properly, if at all, and some property sectors are still performing well.  This was certainly the case here. Competition within the mini-supermarket/convenience store sector remains strong and this has helped maintain healthy rental levels during the recent economic downturn”.

Adam Wilson also commented: “landlords should not disregard any rent review or lease renewal.  It is always worth checking to make sure that the rent has not fallen behind prevailing market rents.  They also provide landlords with an opportunity to strengthen their investment by opening talks with the tenant and examining the possibility of restructuring the terms of the lease”.

If you have a forthcoming rent review or lease renewal and would like some initial advice, or you would like to discuss the process of Lease Restructuring then please do not hesitate to contact Adam Wilson at FHP Property Consultants on 01332 343 222.