The Pensnett Estate

Acting on behalf of the landlord, LCP Properties, MK2 have advised upon the following lease events:

April 2018 rent review on Building 30, a 31,000 sq ft unit let to Wincanaton. The matter was agreed by negotiation and a 6% rental increase was achieved.

March 2018 lease renewal on Building 89, a 78,000 sq ft Cash and Carry let to Booker. A new 10 year lease was agreed at a rent reflecting £5.70 psf.

April 2016 rent review on Building 44, a 72,000 sq ft unit let to Boss Design. The matter was referred to third party and the arbitrator awarded a significant rental increase of £149,000 per annum (63%). The award was 25% higher than the figure offered by the tenant’s agent fully justifying MK2’s advice to refer the matter to third party.

MK2 are currently acting on behalf of LCP Properties on the rent review of Building 55.