HARRIS LAMB SECURES A SIZABLE INCREASE IN RENTAL INCOME AT DERBY INDUSTRIAL UNIT

Lease advisory specialists at Harris Lamb have secured a 15 per cent rent increase for the landlord of a large Derbyshire manufacturing unit.

Acting for North Northamptonshire Council, the team carried out a rent review at Liniar House at Denby Hall Business Park, a five-year-old 178,000 sq ft manufacturing unit.

Harris Lamb were appointed to act in respect of the rent review dated February 2022 where the passing rent was £890,365 per annum equating to £5.00 per sq ft.

Following an extensive period of negotiation, a settlement was eventually reached with the tenant’s surveyors equating to an increase of £135,555 per annum and showing a new rent in excess of £1m per annum backdated to the review date.

Andy Smith, who oversaw the review said: “The demand for quality industrial buildings in key UK locations is still strong and landlords and tenants who have reviews or lease expiries forthcoming would benefit from professional advice in respect of their negotiations.”