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Unit 2B Tannochside Park, Uddingston

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The Challenge

Large standalone warehouse extending to c. 33,200 sq ft and comprising both warehouse and office space, subject to a rent review which assumed a short assumed term. Landlord was keen to remove tenant break option.

The Solution

To negotiate a rent review settlement whilst retaining the tenant break option and avoiding the rental enhancement justified by the short assumed term.

  • Careful negotiations with the landlord’s representative
  • Thorough market research of similar transactions 
  • Settlement at a mutually agreeable reviewed rent, avoiding cost and risk of arbitration

The Results

A reviewed rent was agreed at a lower rental level than reported and justified when considering such a short assumed term.

  • The client retained the future break option
  • Client now alert to the potential issues when drafting rent review clauses, as regards notional lease term to be assumed at rent review
  • Avoidance of third party referral

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