Significant Saving on High Wycombe Client’s Rent Review
The market for industrial units is becoming more competitive in recent years and we’ve seen rents for tenants rising higher than any other asset class. Surprise cost increases can put businesses in a precarious position. Does your business have representation and a good strategy in place when it’s time for your rent review? The savings can be significant, as this client discovered.
Jaggard Macland was recently appointed by major CNC machine manufacturer, Hurco Europe, to settle their January 2024 rent review. The business occupies a prominent position on the Cressex Industrial Estate in High Wycombe and when their rent review came around they were hit with an increase that was substantially more than they were expecting. Hurco Europe recognised that they needed the services of a specialist to act on their behalf and were recommended Jaggard Macland.
Jaggard Macland understands the commercial property market, the legislation around rent increases and the technical parts of contracts. This expertise means our surveyors will identify where it is possible to optimise the position for the occupier and potentially make savings. In this case, working with Jaggard Macland saved Hurco a huge £163,000 on their High Wycombe property. Landlords often have expert advice and negotiators working for them, yet we still see many occupiers that are under-prepared for their rent reviews.
Financial Controller, Adrian Soden says: “We are delighted with the result achieved by Jaggard Macland and the substantial saving on our rent review. From the first meeting to the eventual outcome, we found Steve and Carrie professional and communicative throughout the process. We would highly recommend their services and hope to use them in the future.”
Steve Macdermott and Carrie Johnson of Jaggard Macland work extensively with occupiers in the Buckinghamshire area, including High Wycombe, to get the best results for their clients in rent review and lease renewal negotiations. We are looking forward to working with Hurco again in the future.
If your business doesn’t have a chartered surveyor in your corner, contact us for a no obligation chat about how we work and how we can save you time, money and stress.