The professional Department at Oldfield Smith & Co represents a wide variety of businesses right across the South East and has seen a significant increase in demand for advice and assistance in connection with rent reviews and lease renewals.
Following a prolonged period of rental values remaining relatively constant, the end of the recession has brought rising demand and a falling supply of available property, leading to upward pressure on rents. For Landlords there is the long awaited prospect of real income growth but for tenants, there is uncertainty about future expense and the likelihood of higher outgoings.
Bernard Smith FRICS FCIArb IRRV Head of Professional Services, Oldfield Smith & Co
Fortunately, the Professional Department and Oldfield Smith & Co can help. Whether you are a landlord or tenant, our friendly, knowledgeable staff can provide clear and objective professional advice, whatever the circumstances. In our two most recent instructions, we successfully concluded negotiations on two retail units in Lewes High Street. In one case we acted for a landlord negotiating the renewal of an existing lease at an increased rent. Our open and professional approach to these negotiations allowed us to agree terms on an amicable basis with the tenant, preserving goodwill and providing a solid basis for ongoing occupation.
In the second matter, Oldfield Smith & Co acted for the tenant of premises subject to rent review, where the landlord was seeking a very considerable rise in the rent. Providing sound, competent representation resulted in a much less significant increase, saving our client tens of thousands of pounds over the rent review period.
If you have a rent review or lease renewal approaching, Come and talk to the experts at Oldfield Smith & Co. We are Chartered Surveyors, regulated by the RICS with many years of practical experience in solving all manner of property related issues. We offer a FREE initial consultation with no obligation and our friendly, professional staff will be happy to talk through your options. Call us now on 01825 762222 and see how we can help!
