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London N1 - 104 Islington High Street
23/May/2014 - A-Landlord - London N1
I have acted for the landlord of 104 Islington High Street, a Grade II listed building next door to Frederick's restaurant, since about 1987. At that time the ground floor shop and basement was let to an antiques dealer. Later, the lease was assigned to a silversmith, and thereafter to an interior furnishing shop.
In 2013, the tenant wanted to assign the residue of the term so the lease was surrendered and a new lease granted simultaneously. The new tenant has completely renovated the ground floor and premises for use as a bridal retreat and beauty spa. In August 2013, my Client invited me to become a trustee for the freeholder. I accepted and continue to act as property adviser on tenancy matters arising.
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In 2013, the tenant wanted to assign the residue of the term so the lease was surrendered and a new lease granted simultaneously. The new tenant has completely renovated the ground floor and premises for use as a bridal retreat and beauty spa. In August 2013, my Client invited me to become a trustee for the freeholder. I accepted and continue to act as property adviser on tenancy matters arising.
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London SE1 - 178 Lambeth Road
01/Jan/2014 - A-Tenant - London SE1
A cafe/restaurant with flats above, the property occupies a prominent corner in an isolated trading position.
Acting for the Tenant, for the 2008 review, the landlord's proposal was £34,000 pa. I served the counter-notice to prevent the proposal becoming binding and then negotiated a reduction of £11,000 per annum.
Following expiry of the contractual term, in 2014 the Tenant instructed me to negotiate renewal of the lease.
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Acting for the Tenant, for the 2008 review, the landlord's proposal was £34,000 pa. I served the counter-notice to prevent the proposal becoming binding and then negotiated a reduction of £11,000 per annum.
Following expiry of the contractual term, in 2014 the Tenant instructed me to negotiate renewal of the lease.
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London E13 - 384 Green Street
01/Jan/2014 - A-Landlord - London E13
In 1988, the freehold of 384 Green Street, Upton Park, London E13 was bought at auction on sale-and-leaseback to Boots for a term of 25 years with 5 yearly rent reviews. .
In a corner position, at the junction with Harold Road, and close to Upton Park Station, the property is a ground floor shop with ancillary space on two floors above. It has on-site parking for 1-2 vehicles in its own yard. The trading position is amongst the finest, with Peacocks, Iceland and Tesco Metro a few doors along in the same parade.
Acting for the Landlord. I negotiate rent reviews, lease renewal and advise on matters arising.
For the first ten years, difficulty in finding hard evidence because of a paucity of new lettings meant that the rent did not increase by much. Referring the 2008 review to arbitration was the first time since 1988 that the rent had been assessed objectively and the award increased the rent by approximately 30% There are 4 advertising panels on the return frontage for which at previous reviews the tenant had resisted paying. This time, I got £250 a year. For that 2008 review, the tenant's surveyor was of the opinion the rent should not increase and cited evidence of 2005 reviews at Zone A £38.75 in the same parade. I disagreed with that as evidence, because it involved large stores which, in my experienced, are normally valued overall, rather than in zones. The reasoned award was Zone A £50
The contractual term expired in 2013 and I am dealing with negotiations for renewal of the lease to Boots. A substantial increase has been agreed in principle.
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In a corner position, at the junction with Harold Road, and close to Upton Park Station, the property is a ground floor shop with ancillary space on two floors above. It has on-site parking for 1-2 vehicles in its own yard. The trading position is amongst the finest, with Peacocks, Iceland and Tesco Metro a few doors along in the same parade.
Acting for the Landlord. I negotiate rent reviews, lease renewal and advise on matters arising.
For the first ten years, difficulty in finding hard evidence because of a paucity of new lettings meant that the rent did not increase by much. Referring the 2008 review to arbitration was the first time since 1988 that the rent had been assessed objectively and the award increased the rent by approximately 30% There are 4 advertising panels on the return frontage for which at previous reviews the tenant had resisted paying. This time, I got £250 a year. For that 2008 review, the tenant's surveyor was of the opinion the rent should not increase and cited evidence of 2005 reviews at Zone A £38.75 in the same parade. I disagreed with that as evidence, because it involved large stores which, in my experienced, are normally valued overall, rather than in zones. The reasoned award was Zone A £50
The contractual term expired in 2013 and I am dealing with negotiations for renewal of the lease to Boots. A substantial increase has been agreed in principle.
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Greenford - 30 and 32 The Broadway
01/Jan/2014 - A-Landlord - Greenford
For the landlord of 30 and 32 The Broadway, Greenford, I provide rent review and lease advice and handle matters arising.
No. 30 - In 2001, I negotiated restructuring of the lease to Oxfam so that the flat above was surrendered to the landlord. In 2006, Oxfam decided not to renew its lease on expiry so I handled the dilapidations claim and arranged new letting of the shop to UK Pet Centres. The rent devalues to approximately £44.75 Zone A which is one of if not the highest rent in this part of the parade. The rent was reviewed in 2012 to Zone A £59.51. The lease was subsequently assigned to DTW Associates trading as Cash & Cheque Express.
No. 32 - The entire property (shop and flat) was let to O & H Properties Ltd which in turn had sub-let the flat and shop separately. In 2007, I advised on the dilapidations claim, requiring the Lessee to carry out major repairs to the structure. Also, I negotiated renewal of the tenancy of the shop and which is now let on lease outside the Landlord and Tenant Act 1954. For 2014, negotiations are underway to regularise a change in the tenant's occupancy.
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No. 30 - In 2001, I negotiated restructuring of the lease to Oxfam so that the flat above was surrendered to the landlord. In 2006, Oxfam decided not to renew its lease on expiry so I handled the dilapidations claim and arranged new letting of the shop to UK Pet Centres. The rent devalues to approximately £44.75 Zone A which is one of if not the highest rent in this part of the parade. The rent was reviewed in 2012 to Zone A £59.51. The lease was subsequently assigned to DTW Associates trading as Cash & Cheque Express.
No. 32 - The entire property (shop and flat) was let to O & H Properties Ltd which in turn had sub-let the flat and shop separately. In 2007, I advised on the dilapidations claim, requiring the Lessee to carry out major repairs to the structure. Also, I negotiated renewal of the tenancy of the shop and which is now let on lease outside the Landlord and Tenant Act 1954. For 2014, negotiations are underway to regularise a change in the tenant's occupancy.
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