We were appointed by landlord and real estate investor, LondonMetric, to advise on a rent review for one of the largest logistics warehouses in Reading.
Appointed at the height of the COVID-19 pandemic and with a lack of comparable market evidence in the area, we drew on our in-depth knowledge of the Thames Valley property market to achieve a rental increase that was in line with the fluctuating, strong dynamics of the logistics market at the time.
“We were not only pleased with the result but the way in which the matter was conducted. David knew his market and was on top of the market evidence throughout the process, which ultimately led to a decent result.”
Sam Pringle, Portfolio Manager, LondonMetric.
How we helped
- Understood the importance of the asset’s performance in relation to the client’s overall investment performance.
- Worked with tenant to develop a positive landlord / tenant relationship, which aided the process.
- Drew upon in-depth knowledge of Thames Valley industrial market to produce evidence-based rental increase, despite scarcity of comparable buildings.
- Considered the market evidence on a local and regional basis.
- Provided updated advice on market transactions and the influence on the rent review.
- Rental tone took into account the quickly evolving market, in light of the impact of COVID-19.
- Adopted a personable and pragmatic negotiation style to suit the tenant and ensure the best outcome for our client.
- Achieved a 28% increase in the rent for the landlord, representing £2.5m in additional rental income over the remaining lease.
- Concluded rent review within two months of the review date.
- Enhanced the landlord and tenant relationship for the benefit of both parties.
Get in touch
If you think you may need similar support to that described here, or you would simply want to have an informal chat with a member of our team to discuss your property needs, get in touch.