Central & Residential Properties
Central & Residential are a privately owned property company, which own a mixture of retail and office investments located in the south-east.
Eggerdon & Holland have provided both lease renewal and rent review advice to this client over the years. The most recent project involved initial advice regarding the prospect for lease renewal which then became an instruction to find a replacement tenant once confirmation had been received that the existing tenant intended to vacate at lease expiry. The property was a shop and ancillary upper parts in Station Road, Addlestone.
Eggerdon & Holland were engaged to advise on the current market rent ahead of lease expiry and to contact the existing tenant to establish whether they planned to renew. On this occasion the tenant decided to vacate, and our strategy turned to the prospect for finding a replacement tenant. We prepared a marketing report, which covered appropriate quoting terms, strategy as well as works required to present the property in the best light to secure early success. We liaised with a dilapidation surveyor over the outgoing tenants exit repair works. We managed to find an occupier before the existing tenant’s lease was due to expire resulting in continuous and improved rental income for our client due to no void period. The shop is now used by a nail salon and the property has been brought into repair and improved by this new tenant following their fit out.