Carter Jonas were appointed to advise the client on the likely outcome of the outstanding rent review where the rent quoted amounted to an increase of nearly 47% on the passing rent.
Travelodge required Carter Jonas to negotiate with the landlord’s agent with a view to avoiding the uncertainty of a third party determination, whilst achieving the best possible reduction from the landlord’s quoting rent.
Carter Jonas’s role included reviewing title documents and interpreting the rent review provisions within the lease, assembling and adjusting comparable evidence to support the client’s case. Additionally identifying relevant factors to limit the rent increase, specifically the shell condition in which the premises was let and falls to be valued for the purpose of the review. We were able to negotiate a considerably reduced rent increase of approximately 21%, recommending settlement to the client and overseeing the completion of the rent memoranda to document the settlement.