Case Study 4: Heywood, North Manchester
||Re-gearing of Head Lease
||Re-gearing of our client’s lease of a 150,000sq.ft. regional distribution centre utilising their break option to secure improved lease terms.
- Investigating the asset management requirement of the PLC landlord and advising the client on how best to utilise this within their current business plan
- Negotiating a reduction in the passing rent in return for an extension of the lease to for a further 5 years but retaining a tenant only option to break within the extended term
- Agreeing an interim statement of value of dilapidations with the landlord as part of the transaction assisting the client with financial planning
- Saving to client in excess of £125,000
In 2013 we negotiated in excess of £5m in reverse premiums to our clients for re-gearing existing leases