Challenge

Our client Lindab occupies industrial premises in Trafford Park, Manchester, which were subject to rent review. The premises are approximately 42,500 sq ft and the passing rent £198,360 pa. The Landlord proposed a rental increase of more than 20%. In addition to the requirement for an acceptable rent, Lindab wished to undertake structural alterations to enhance the efficiency of their business. However, the lease prohibited the type of works required.

Solution

Altus Group negotiated with the landlord and successfully achieved a rent reduction from the landlord’s proposal of £250,350 pa to £205,000 pa, representing a modest rental uplift of 3.35%. As part of the agreement, landlord’s consent to the proposed works was secured. The settlement represented rental savings for Lindab of £226,750 over the 5 year review period.

 

Results

£226,750 Savings

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