It is usual for any commercial property lease contracted in the UK and that extends beyond a five year timeframe, to incorporate a review of the headline rent at the 5th year anniversary of the start of the lease.
How this rent review is approached, debated and settled however, is subject to an incredibly wide number of variables that will be set out in enormous detail within the lease.
Because of these facts, it is crucial that at the point when the Heads of Terms (the document that forms the blueprint for any lease) are being negotiated, this topic is one that is considered and negotiated in an extremely detailed way and from a position of knowledge and expertise by whoever is negotiating the Heads of Terms.
DeVono have a team of experts, all of whom are extremely well versed in the arguments and provisions surrounding this emotive issue. As a result we are able to provide expert commercial advice at both the point when the clauses are being defined in the lease through our negotiation of the Heads of Terms, and also when the actual rent review itself must be negotiated at that 5th year point.