Client: Unipath
Unipath lease a headquarters, laboratory and medical diagnostics production building on the Priory Business Park in Bedford. The development was purpose built to their specification in 1996.
When the first rent review fell due, Unipath asked our Industrial department to handle it. The rent review was unusual, as the lease required us to value two hypothetical buildings (on hypothetical lease terms) in up to four different locations. These locations were in Bedfordshire, Buckinghamshire and Northamptonshire.
Our 25 strong industrial team covers the whole of the UK, advising companies in the manufacturing, research and logistics sectors on landlord and tenant issues, so it was no wonder that we had the market knowledge and experience necessary to deal with this unique review. We reduced the proposed rent by 18%, saving £315,000 a year.
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