Client: HSS Hire Service Group
HSS has a large portfolio of properties, many of which are specialist units - some are shops, others are trade counter – often in edge of centre locations . Our landlord and tenant experts have settled hundreds of rent reviews for HSS over the last five years, a selection of which are shown below.
35 Brighton Road, Redhill
This property had an open A1 planning consent, which meant that in theory, fashion retailers, reflected in the comparable evidence presented by the landlord, could occupy it. However, the property was a small unit of just over 2,000 sq ft, located in a fringe location surrounded by tertiary retail and office units. Our evidence from surrounding towns showed that demand would be limited and the market had changed. We secured a nil increase for this rent review.
1 St. James Hill Road, Northampton
This property was located on a retail park where neighbouring tenants included a video store, electronics retailer and a trade counter operator. The lease, however, indicated it had an open A1 planning consent, so the evidence presented by the landlord was drawn from nearby prime retail parks. We successfully argued that this evidence was inappropriate and our counter offer of a minimal increase above RPI was accepted.
Southgates, Kings Lynn
HSS Hire’s outlet in Kings Lynn occupies a 1950s car showroom on a busy road leading into the town centre. The building is poorly configured for the company’s purposes as it has limited height to parts, and poor access routes which cannot accept lorries. The user clause in the lease restricted the user to domestic or industrial tool hire with the only alternative being for storage and distribution purposes for which the building was unsuitable. On the basis of the restrictions to use, we were able to secure a nil increase in rent.
307 Camberwell New Road, London SE5
In this instance, the site was to be redeveloped, yet HSS still had to agree a rent review. The landlord drew high rent review evidence from nearby retail warehouses, but we illustrated a downturn in the market by reference to limited but important letting evidence.
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