Rent review, St John’s Wood High Street, London NW8
The lease advisory team was instructed to advise the Hospital of St John and St Elizabeth regarding a January 2009 rent review of its retail hospice shop on St John’s Wood High Street. The landlord quoted a rent of £70k pa. The rental value hinged on identifying recent market trends and how best to account for the shop’s internal layout.
Successful negotiations achieved a revised rent of £58k pa relating to a saving of £60k over the final five years of the lease.
The lease advisory team also provided advice on marketability, proposed improvement works and future occupation requirements.
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