Rent review, 102 Park Street, London W1
The lease advisory team was instructed by the Ghanaian Government to undertake the June 2008 rent review. 102 Park Street is a traditional, period Mayfair terraced building over four upper floors and a basement level.
Varying levels of improvements have been undertaken over the years and the offices now comprise high standard, modern office accommodation. By careful interpretation of the lease and associated licence documents, the lease advisory team was able to assess the building’s value in its original state.
The eventual settlement produced a saving of over £51k for the period from the landlord’s original proposal to the next review.
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