Rent Reviews & Lease Restructuring

The professional services team at GN2 have the market experience and technical skills required to best advise their established landlord and occupier client base. Lease agreements are instrumental in maximising the investment value of an asset for both occupier and investor, and the negotiation of them takes in-depth knowledge of the market and the legal framework in which the negotiations take effect.

GN2’s team have 35 years’ experience in dealing with the full range of lease advisory advice: lease re-structuring, break options, lease renewals, rent reviews as well as professional expert witness and arbitration services.

Case Studies

14-15 Carlos Place

On behalf of private clients we are advising the freeholders on the rent review of this magnificent Mayfair art gallery due in 2017. We acted on the 2012 rent review and on the original leasing back in 2007.

The art gallery market in Mayfair has seen phenomenal rental growth over the last few years and Mayfair more than ever has become the heart of the UK art world.

  • Location: Mayfair

Sales Force Tower

Formerly known as Heron Tower GN2 have been instructed to advise City Credit Capital on one of the first rent reviews in the building since it’s completion in 2011. We are handling the review of the part 12th floor with an effective date of 25 December 2016.

  • Location: City

Condor House

We have been instructed by asset managers Muller to advise on the September 2016 rent review on behalf of the landlord NorthStar. The fifth floor comprises 17,580 sq ft of high quality Grade A offices located in a prime position overlooking the piazza of St Paul’s Cathedral.

  • Location: City

28-36 Davies Street

On behalf of Stow Properties we have recently agreed a series of rent review and lease renewal on this prime block of property. The building is known locally as Claridge House, given its proximity to Claridges. We have undertaken negotiations with retailers Sunseeker, Gimpel Fils and the Yacob Gallery as well as on the office suites above.

There has been significant rental growth both for B1 office accommodation as well as for retail showrooms and galleries, and all this in spite of the Crossrail works at the Oxford Street end of Davies Street.  We can foresee the popularity of this Street as a high end quality retail destination increasing further as the Elizabeth Line comes on stream.

  • Location: Mayfair

7-9 Rathbone Street

GN2 negotiated the 2014 rent review on behalf of the Landlord, Stevens Properties Limited.   The building is 16,000 sq ft and is situated in Fitzrovia and is occupied by CH+I advertising agency.  Whilst this review took some considerable time to negotiate, this was considered beneficial to our clients position as the market was continuing to strengthen.  The adjoining site was in the process of being redeveloped and has now been pre-let to Facebook.

  • Location: Noho

White Bear Yard

On behalf of IDEO LP we negotiated a rent review against Standard Life.  We agreed the June 2014 rent review in a timely manner as we were particularly concerned with the rapid escalation in rental values in the surrounding area.  Rents have now reached £67.00 to £70.00 per sq ft and we are very pleased to have been able to agree a more historic rental level.

  • Location: City

For further information please contact

Tim Powell-Harper MRICS
020 7183 5916

Pippa Vincent
020 7183 6509

Nick Moore
020 7183 6554