VTA
Challenge
Altus Group was instructed by VTS who occupy industrial premises on an estate in Hayes, Middlesex. The site includes a very large car park. At rent review, the landlord’s surveyor argued for a significant rental increase from £168,750pa to £237,650pa, attaching much value to the yard.
Solution
Our Surveyors researched the immediate area for rental values to apply to the yard. It became apparent that there was a need to cast the net wider and evidence was obtained to demonstrate that the rental value for the yard area should be much less than the landlord’s proposal. Convincing the landlord was difficult but after making a third party application, agreement was reached saving the client £143,250 over the 5 year rent review period.
Results
£143,250 Savings
Services provided
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