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Rent Review

Mansfield Road, Ilford, Essex IG1


Client

Private Professional Client

Property

A former Victorian house that is fully let to one tenant for the purposes of a pre-preparatory school.

Project Summary

To advise our client on a rent review that fell due under the terms and rent review provisions of the lease between our client and the tenant. 

D1 Use - Considerations

The subject property being in educational use falls within Class D1 of the Town and Country Planning (Use Classes) Order 1987.

Strettons have wide experience of dealing with the disposal, acquisition and valuation of properties in educational use across London. 

Advice

After inspecting and measuring the premises, we prepared a full report setting out our opinion of the current market rental value of the property. Our conclusions were that there was scope for a significant increase in the rent.

 

Result

After a long period of negotiations with the tenant’s agent we eventually negotiated a settlement representing a 59% increase.

 

Testimonial from client

“Thank you for your work and excellent service. The increase from £31,500 to £50,000 is a substantial increase and a really great result.”

Isabelle Waight

020 7907 7428
isabelle.waight@strettons.co.uk