sbh rental review team saves clients record sums in 2009

Despite the severe economic downturn sbh’s rent review negotiation team saved clients almost £3.5m in new rent reviews during 2009 – a reduction of almost 20% from the original landlord proposals. It brings the total five-year rent savings achieved over the past decade by the team to almost £80m.

Led by senior negotiator Andy Melvin, sbh has tackled more than 200 rent reviews over the past decade averaging around 100,000 ft² and has saved clients an average of 65p per ft² pa – a reduction of £65,000 every year for the typical project.

Andy commented: “Following severe falls in rental values there is little sign they will improve in the coming months. Our biggest challenge is getting landlords and tenants to confirm details of the incentive packages attached to most letting deals.

Landlords are frequently offering several years rent-free or cash equivalent, aimed at creating artificially high ‘headline’ rents to protect their investment value. With rates levied on empty properties, landlords are increasingly desperate to find new tenants so such incentives are bigger than ever.”

February - 2010