Guide for industrial and commercial tenants
Rent reviews
Our standard building lease is for a period of 5 years. However, there is provision in the lease for it to continue on a year to year basis on tacit relcoation (i.e. silent renewal) and for the lease to be reviewed every five years.
This means we are likely to consider extending your existing lease where there are no major changes to the standard lease terms and you have met the terms of your lease. This approach saves time and costs for both you and us.
The alternative approach is to offer you a new lease. This may be the case if it is necessary to update the general terms of your lease, but only if you have complied with the terms of your lease.
Ground leases held from us will have provision for the rent to be reviewed at regular intervals during the term of the lease, usually every 5 years.
Appeals
If you think your Rent Review Notice is unreasonable, you may appeal against it.
However, our valuer will have carefully assessed current market values for the area in order to arrive at a fair rental.
To appeal against a proposed rent increase, you may wish to consult a solicitor or chartered surveyor to act on your behalf.
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