Newton Perkins was instructed to advise Tellon Capital on the outstanding rent review at its building, 16 Eastcheap, EC3, which was occupied in its entirety by a large insurance company.
Through extensive market research, inspections and negotiations, we put together a very strong case for a significant increase in the rent.
In order to realise the maximum value for our client and progress stalled discussions with the tenant, we advised that it would be prudent to apply to the RICS for third party determination. The Arbitrator was then asked to hold matters in abeyance pending further negotiations.
We were ultimately able to achieve a substantial increase of c.55% for our client, equating to over half a million pounds per year.