Wokingham, The Business Centre

Industrial lease regear

The Challenge

ING Real Estate's client own a number of industrial units at The Business Centre in Wokingham. There was a rent review pending at a unit of 25,000 sq.ft on the estate. ING Real Estate wanted to maximise the investment value of the property, whilst ensuring that the tenant remained in occupation for as long as possible.

The Solution

ING Real Estate appointed Campbell Gordon to handle the rent review on their behalf. They realised that there was an opportunity to grant the tenant additional car parking, which would mean that they were happy to remain in the property.

The Result

The new lease significantly enhanced the value of the investment, whilst fulfilling the tenant's operational needs.

'We appointed Campbell Gordon to conduct the rent review negotiations on this property. During the negotiations they identified an opportunity to regear the lease, securing a longer term, higher rent and better covenant. A good result.'

Jay Cable, Senior Associate - ING Real Estate Investment Managers

 

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