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  6. Lease Renewal: Part 2nd Floor, Linen Hall, Regent Street, W1B

Lease Renewal: Part 2nd Floor, Linen Hall, Regent Street, W1B


Key Issues

  • Lease Expiry
  • Length of Lease to be granted
  • Insertion of break clause
  • Level of Rent


What we did

  • Allsop represented the tenant in negotiating the terms of a renewed office lease.
  • The tenant had a protected lease on several rooms in an otherwise serviced office building. The landlord was attempting to apply service office license rents to our client’s premises.
  • The landlord only wanted a lease with a landlord’s redevelopment break.
  • The rent could not be agreed with the landlord and the matter went to court for determination.
  • Allsop advised the tenant as to the likely outcome of the court case and recommended making an offer to settle the case.
  • Richard Bourchier MRICS Partner at Allsop acted as Expert Witness for the tenant.

 

The Outcome

  • The rent determined by the court was less than the offer previously made to the landlord and therefore the landlord paid for the tenant’s costs in going to court.

 

Property Occupier Services

We cover central London and Fringe offices, we also cover the south east market in both offices and industrial and consider rent rolls from about £75,000 p.a. upwards.

We can provide a free appraisal of your rate bill, and advise on the most efficient and least risky course of action.

If your lease is coming to an end? Do you have a break option or want to re-negotiate your lease?

We can help negotiate any “exit costs” to the tenant of putting a property back into repair and potentially reinstating tenant’s alterations at the termination of a tenancy / lease.