Lease Advisory Services

Our lease advisory experts devise innovative solutions around lease events for both owners and occupiers of commercial property.

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Lease Advisory

Our lease advisory experts devise innovative solutions around lease events for both owners and occupiers of commercial property. Please get in touch with a member of our lease advisory team today.

Embedded within active market leasing, tenant representation & capital markets teams, our advisors seek to add value/make savings for our clients by providing innovative strategies that reflect the very latest market trends.

Why Knight Frank?

To deliver the best results for our clients, 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 owner and occupier relationships.

Through our commercial offices network across the UK we have access to extensive market information, enabling us to offer consistently high levels of service to local, regional, national and international clients.

Our areas of expertise

Lease restructure/regears

Our teams specialise in identifying opportunities to add value/make savings for their occupier or owner clients through restructuring or re-gearing leases.

These come in many forms but can include break waivers, diluting reinstatement/dilapidations liabilities, entering reversionary leases to extend terms, pre-agreeing rent reviews etc.

At all times, we actively seek to maximise the value of such opportunities by providing a cogent strategy, through financial appraisal of options and detailed negotiation of new/revised lease terms.

Rent reviews

Technical expertise coupled with local market knowledge enables us to provide market leading advice and negotiation of rent reviews and (if necessary) to act as expert witnesses /advocates in arbitration / independent expert proceedings.

Lease expiries & renewals

The end of a lease offers an opportunity to renew the lease terms, including (but not limited to) the rent, which can go up or down.

Our lease advisory experts are experienced in negotiating lease renewals at expiry or reversionary leases in advance of lease expiry. In particular, our advisors are highly experienced in negotiating renewals of tenancies protected by the Landlord & Tenant Act 1954 and dealing with Court procedures if required.

Lease Surrenders

We negotiate surrenders of leases for both owners and occupiers and in so doing provide financial analysis of the associated cost/benefit as well as detailed input into the negotiation of the precise terms of the surrender.

Dilapidations – Section 18 Diminution Valuations

Our Lease Advisory surveyors provide advice on the extent to which the statutory/common law cap applies to damages payable for breach of repairing/reinstatement obligations.

Often working alongside our colleagues in our Project Management and Building Consultancy team, we prepare the valuations needed to assess the extent of the diminution in value resulting from a tenant’s failure to repair/reinstate.

Should it not be possible to resolve the dispute through negotiations, we are experienced in acting as expert witnesses in Court trial proceedings.

Arbitration & independent expert referrals

Many of our advisors are qualified to act as arbitrators and independent experts to resolve rental disputes arising under leases and are regularly approached by the RICS Dispute Resolution process to take up appointments.

Testimonials

Simon and James were appointed to advise on all lease advisory matters in The Leadenhall Building in 2019 following a competitive tender. Their attention to detail and ability to devise a cogent strategy focused on maximising value from the outset was exemplary and they have worked in close partnership with our team in executing this plan. The results achieved on both rent reviews and lease renewals have exceeded the expectations of all and they continue to add real value as we move into the next phase of asset management.

Adam Goldin, Head of UK, CC Land (Landlord)

October 2023

We have appointed Knight Frank on several significant lease advisory mandates in London over the past 5 years, notably at Finsbury Circus House and 1 Coleman Street. To me the team are unique - with the expected ‘technical expertise’ but also a fundamental grounding in the market which sets them apart from their competitors. They have a habit of uncovering value where others may not look and are good fun to work with which is an added bonus! Working with Knight Frank feels like a genuine partnership and I would have no hesitation in recommending them to other owners looking to use lease events to maximise value.

Peter McNamara, Senior Asset Manager, Union Investment (Landlord)

October 2023

Knight Frank have been one half of the joint advisory team on 20 Fenchurch Street for some time now, guiding and shepherding through all lease events include major lease renewal and re-gearing, and rent reviews for the entire property. The joint lease advisory team (Simon Austen and counterpart) have been great to work with; they have a truly collaborative, understated, analytical approach and it has not been hard with their advice, to negotiate the complexities of high-value transactions. Furthermore their coordination with broker counterparts (Dan Gaunt and counterpart) has seemed to result in strong opportunities for the property.

Christine Baldwin, UK Director, H Properties

October 2023

Laura developed a clear and comprehensive strategy for the various lease events we have at WCP and she has worked hard to find creative solutions to secure performance. With the vacancy on the estate, she works closely with the leasing agents to ensure that we understand the implications of any evidence created and its impact is maximised. The occupier profiling and sector analysis undertaken has been particularly insightful and has helped us identify a number of value add opportunities. Laura’s enthusiasm and willingness to go the extra mile is refreshing and we really enjoy working with her.

Claire Dawe Head of Asset Management, Stanhope PLC (Landlord)

October 2023

Knight Frank Edinburgh recently acted on our behalf in the rent review of a strategically located cargo and distribution depot. They secured a positive outcome and the advice and recommendations provided were timely, accurate and efficient. We would have no hesitation in using their services again.

Lothbury Property Trust (Landlord)

Knight Frank have advised Taylor Wimpey on a multitude of lease advisory instructions including lease renewal, Rent Review and lease restructuring services. The advice they have given has always been accurate, timely and pragmatic. The Lease Advisory team is well integrated within their wider agency, development, tenant representation and investment teams ensuring a fully collaborative and joined up approach.

Chris Green, Asset Manager, Taylor Wimpey (Occupier)

We have had a relationship with Knight Frank for many years. When we relocated to our main building in Hill Street, Mayfair, Knight Frank advised us on the acquisition and subsequently regeared on our Headquarters building and were on hand to give us expert advice that we needed and we have always found that they do a first class job for us. Knight Frank used their up to date market intelligence, giving us tactical advice and we got some significant cost savings out of that.

Glenn Dunn, Forsters LLP (Occupier)

By devising a comprehensive strategy to handle a large volume of rent reviews falling over a short period at Dashwood, the Knight Fank City Lease Advisory team exceeded expectations in the results they have secured at rent review. They provide a high level of technical due diligence together with sound commercial advice and I would have no hesitation in recommending them to landlords elsewhere in the City.

Tim James, (former) Portfolio Manager, City – Land Securities (Landlord)

Knight Frank has been on our Lease Advisory panel for seven years. They provide us sound, strategic and rounded advice. We value their strong market knowledge, responsiveness and long-standing expertise.

Mary Farrell, Senior Lease Manager – Grosvenor Britain & Ireland (Landlord)