FHP SETTLE RENT REVIEW FOR COTSWOLD OUTDOOR GROUP

Professional Services News

The rent on the Cotswold Outdoor retail warehouse on Castle Boulevard, Nottingham has been settled at nil increase on the current rent passing from the review date of June 2010.

The premises comprise a substantial 1950’s retail warehouse building containing 8,500ft² on the ground floor with a further 2,500ft² ancillary accommodation on the first floor together with 6 car parking spaces.

Mark Bradley who represented the retailer tenant commented:-

“The landlord initially proposed a rent of £138,000 per annum which was based on rental values being achieved on large modern retail units rather than reflecting the age and layout of the actual property.  The floor space of 8,500ft² is of a size for which there is limited demand, certainly from the convenience store market, and this was a further factor which reinforced the argument to eventually persuade the landlord to concede to settle at the current rent passing of £110,000 per annum.”

For further advice on lease renewals, rent reviews or landlord and tenant matters generally, Mark Bradley can be contacted on 01332 343222 or email markb@fhp.co.uk