Successful rent-review for major car dealership
Our Aylesbury office has recently negotiated a rent review on a large main-dealership garage in Aylesbury.
The site in question totals in excess of 2 acres with buildings totalling c. 24,000 sq ft, along with 183 car spaces for cars-for-sale and associated parking.
Negotiating rent reviews for car dealership sites is not an easy task! for two reasons
– Car dealerships are often owned freehold, which means there is a shortage of market rental evidence
– Many motor dealership leases provide for rents to be indexed linked, rather than to open market rental value
Despite the challenges presented by this sector, Brown & Lee was able to negotiate a healthy increase in rent c.15% on review, to a sum comfortably in excess of £200,000 per annum.
Negotiating a rent review can be a challenge for many landlords, but it is a challenge we welcome. It is an integral part of our full-service ability, and our clients can rely on our experience and unrivalled local knowledge to achieve the best possible outcome.
Further details are available from Peter Bridgeman at our Aylesbury office.
Email: firstname.lastname@example.org or call 01296 420637