Client: Harding Estates
Located in a prominent part of Old Christchurch Road in the prime retail area of Bournemouth. Owned by our clients as an investment property, it has a prominent frontage and was let to Skipton Building Society at a rent of £65,000 per annum.
The owners appointed our landlord and tenant team to negotiate its forthcoming rent review.
Our solution
Much of the negotiations revolved around the physical aspects of the building. Although it presented good prominence down the hill, its frontage curved away into a less valuable location. The unusual shape on the ground floor reflected a high proportion of Zone A. In addition there are three upper floors of offices partly sublet.
Results
We secured an increase to £106,000, 63% higher than the passing rent, and representing an total uplift of £205,000over the five year term.
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