After 1½ years of negotiation and extensive arbitration, which took 9 months because of legal issues, we eventually achieved a favourable settlement on Scott’s Restaurant rent review for our clients Frelene.
The reserved rent of £310,000 per annum was subject to review and the Tenant was fighting for nominal increase. However, the Lease permitted the premises to be valued either as Retail, Restaurant or a mixture of both.
After a full bloodied arbitration a figure of over £430,000 per annum was determined.
Professional | Anthony Lorenz | Kathryn Sowter
