Why Knight Frank?
At Knight Frank we believe it is essential to keep pace with market transactions, sentiment and practice, but also with ever-changing case law and statute that affect landlord and tenant relationships.
Through our commercial offices network across the UK we maintain a thorough market knowledge, offering consistently high levels of service to local, regional, national and international clients.
Our areas of expertise
Lease restructure – break options
Changing market and economic conditions coupled with evolving accounting practices have resulted in companies undertaking a reappraisal of leasehold liabilities and investors seeking to minimise voids whilst maximising investment returns.
Our teams actively seek to maximise the value of such opportunities through strategic advice, thorough financial appraisal of options and negotiation on new lease terms.
Rent reviews – expert witness
Technical expertise coupled with local market knowledge enables us to provide advice and negotiation support on rental value and strategy, preparation of arbitration / independent expert reports and expert witness representation.
Dilapidations – Diminution Valuations (S.18(1))
In conjunction with building surveyors and solicitors, our experienced Lease Advisory surveyors provide advice on the extent to which statutory provisions can cap damages payable for breach of repairing obligations.
We are very experienced in the preparation of a variety of reports and valuations needed to assess the extent of the diminution in value resulting from a failure to repair. This often requires a multi-disciplinary approach. Should it not be possible to resolve the dispute through negotiations, we can provide expert witness representation in court and are experienced in mediation procedures.
Lease expiries & renewals
The end of a lease offers an opportunity to restructure the lease terms when the rent can go up or down. Whilst a statutory framework governs most renewals, resulting in some cases being referred to court, an increasing number of leases are unprotected.
Our lease advisory surveyors are professionally qualified and highly experienced in managing this technical process and can provide both strategic advice and support throughout the negiotiation and legal process.
Arbitration & independent expert referrals
In the event a settlement cannot be negotiated, we are highly experienced in the referral of rent review disputes to either arbitration or independent experts.
We have a detailed knowledge of the statutory framework provided by the Arbitration Act 1996 and of the procedural instructions required by independent experts.
The necessity to provide properly researched and admissible evidence is fully understood as are the responsibilities of an expert witness.
Our lease advisory surveyors are regularly appointed by the RICS (and by private appointment) to act as arbitrators or independent experts.