Valuation: the first stage is to provide a rental value of the property. The valuation process involves the following: inspecting the property, measuring and taking site notes; reading the lease; researching and collating the relevant evidence; compiling a report setting out the relevant advice.
Negotiation: the second stage is where endeavours are made to reach a satisfactory agreement with the other party. It is not a ‘five minute’ job, and often takes several months to reach a conclusion, but we aim to keep clients advised of progress along the way. We have the experience of dealing with a wide variety of properties, including retail shops, offices, industrial premises, betting shops, banks, children’s nurseries, doctor’s surgeries etc.
Adjudication: this is the final stage and only becomes necessary if the matter cannot be agreed by negotiation. The lease will state whether the matter is to be referred to an Arbitrator or an Independent Expert (also known as 3rd party reference). We are able to provide the written reports, (Statement of Agreed Facts, Expert reports, Replies and Submissions on Costs), required to be submitted either to an Arbitrator or an Independent Expert.
As we have experience of acting as Arbitrator or Independent Expert ourselves, we know what factors are important to include in our own submissions.
We are happy to provide a rental valuation addressed to both landlord and tenant to enable the Parties to reach their own negotiated settlement.
Contact us today on: 020 8559 2622.