26 April 2018
SHW were recently instructed to advise the landlord on a rent review of a 10,000 sq ft industrial unit in Littlehampton where rental growth has been strong over the past five years. Despite extensive negotiations no agreement was reached and an application was made to the RICS to have the matter resolved by an Independent Expert.
Richard Bull, Partner within the SHW Professional Department was appointed to act as an Expert Witness representing the landlord as he has a particular focus on the West Sussex industrial market.
The result following detailed submissions to the Independent Expert was an increase in the rent above the highest offer made to the tenant during negotiations and equating to a rise of approximately 50% from the passing rent.
Richard said of the result: “Dispute resolution is a vital part of the services we provide to the commercial property sector. Sometimes a negotiated settlement isn’t always possible but in such instances our knowledge of the local market puts us in the strongest position when providing evidence as an Expert Witness.”