We were appointed by Moss Bros to review a recommendation made by London-based property advisors, proposing a settlement at a rental of £289,000 per annum.
Our argument: the unit had numerous physical disabilities, significantly impacting on operational effectiveness and, therefore, its rental value.
Following a detailed analysis, we advised Moss Bros to reject its previous advice and pursue an arbitration process to achieve a lower rental.
Result: The Arbitrator awarded a rental of £276,500 per annum, £12,500 per annum below the previous agents’ recommendation. We also served a Calderbank offer, resulting in the landlord having to pay all of the arbitration costs and our fees.
“I recognise and acknowledge the hard work and professional input that is always a feature of your work. Not quite sure what more I can say except of course—thank you and that I fully appreciate what you have done for Moss Bros.” Richard Hepton, Property Director, Moss Bros Group PLC.