Real Estate Investment Management (REIM), are Landlords of Refuge House, 9-10 River Front, Enfield, a multi let office building of circa 25,000 sq ft in Enfield Town. Three of the leases were subject to rent reviews and in a rising market, it was important to achieve the best possible rent.
sbh Page & Read were instructed to act on behalf of REIM in negotiating the rent reviews directly with the tenants. sbh Page & Read had been involved in recent lettings in the building and were also active in the office market within Enfield, so had an in depth market knowledge and a number of relevant comparables. Negotiations were entered into and revised rents were agreed without recourse to a third party.
The rent review negotiations resulted in an increase in the passing rents without recourse to a third party for determination, and thus increasing the value of REIM’s investment.