Maughan Mitchell acted for our client, Carry Gently, in Rent Review negotiations, on their three warehouses, which totalled 20,000 Sq Ft, located in the Blackwater Valley.

The landlord initiated the August 2022 Rent Reviews proposing a 33% increase, up from the rent level agreed at lease commencement in 2017.

Accordingly, we reviewed the lease contracts and inspected the properties. We then undertook a comprehensive review of rental evidence across the region, including Aldershot, Farnham, Farnborough, Fleet and Camberley, considering each comparable transaction. With an eye for the detail, we focussed on the age, quality and location of the subject and the assumed lease terms.

By meeting with the landlord’s agent and engaging in detailed negotiations, over several months, we were finally able to reduce the landlord’s expectations, agreeing a reduced uplift of 20%; relatively modest considering the limited availability of warehouse space in the region.

Rent Savings, over the period to lease expiry in 2027, amounted to in excess of £100,000.

Carry Gently, Brook Estate, Aldershot – Rent Review Advice