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Weston Favell
01/Jul/2004 - Weston Favell - A-Tenant
Acting for Nolan's Jewellers in Weston Favell Shopping Centre, Northampton, the rent was £25,500 per annum and for the July 2004 review the Landlord, The Tesco British Land Property Partnership, proposed £58,800 per annum, based on an open market new letting nearby.
(Every little helps Tesco!) To put pressure, Tesco referred the matter to an independent expert, but the matter was held in abeyance. Initially, the lowest I could persuade the Landlord to accept was £45,500 pa, but, after the freehold of the Centre was sold, I negotiated with the surveyors for the new Landlord and the rent was agreed at £35,000 per annum.
A saving of £23,800 per annum
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(Every little helps Tesco!) To put pressure, Tesco referred the matter to an independent expert, but the matter was held in abeyance. Initially, the lowest I could persuade the Landlord to accept was £45,500 pa, but, after the freehold of the Centre was sold, I negotiated with the surveyors for the new Landlord and the rent was agreed at £35,000 per annum.
A saving of £23,800 per annum
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