IS YOUR TELECOMS LEASE LOOSING YOU £000’S?

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04/12/2006 Christopher Hicks BSc (Hons) MRICS Associate Chris has a wide ranging professional experience including minerals and waste, utility advice and telecommunications .

“Do you have a telecommunications site on your land or building and has the same operator been on site for a few years?  If the answer is yes, your lease may be due for renewal and we could increase the rent you receive substantially and improve many of the other terms”, reports Christopher Hicks, a leading telecoms specialist with Fisher German.

“Mobile phone companies have been active in the UK for over 10 years now, and we are coming across many agreements where there is a huge potential to improve the rent and other terms at lease renewal”,

Christopher advises that recently he has negotiated lease renewals for both farmers and commercial property owners where rents have increased between 50% and 100% and in a number of cases, 300%, thereby improving substantially the earning potential of the asset. In addition, the rent review provisions have been revised from five yearly to the Retail Price Index only, to three yearly review provisions to the higher of the Retail Price Index or Open Market Value, giving the landlord greater flexibility over the term of the new lease to ensure the rent keeps up with market values.

“We are, therefore, offering owners a free appraisal of the lease to see if there are opportunities for renegotiation, rent reviews or maybe a renewal of the whole agreement”.

Christopher is enthusiastic about this service and says “in many cases we have dealt with recently, improvements have been made to both the rent and terms of the lease thereby landlords have benefited from our expertise”.

If you would like to take advantage of Fisher German’s offer to asses your lease, please call Christopher Hicks on 01858 411202.

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