De Villiers recently advised an Engineering Group in relation to their forthcoming tenants break clause in 2012 at their 50k sq ft industrial unit in the Midlands.
De Villiers provided full cost/ benefit analysis advice on the potential move to a new property or staying at their existing premises beyond the break clause date. It was agreed if a suitable financial incentive could be reached the Engineering Group would not relocate to a new property.
After negotiations De Villiers were able to agree a rent free incentive worth in excess of £150,000 with the Landlords plus a 10% reduction in the current rent payable in return for releasing their right to the tenants break clause and securing a new 5 year lease.
De Villiers provided a detailed business case in order to gain board approval; before guiding their client through the legal documentation process right up until completion.
If you would like further information of our involvement on this case, or any other similar scenarios, please contact us