·      Commercial Re-gear Exercises

·      Commercial Rent Reviews

·      Commercial Lease Renewal

·      Residential Lease Extensions

·      Residential Enfranchisement

Commercial

Re-gears: Where both parties are willing, a lease can be restructured during its term by varying contracted liabilities and period.  Such scenarios can be mutually beneficial with tenant incentives given over in return for pushing out expiry dates. During COVID-19, re-gears were able to help many landlord – tenant relationships by providing an alternative to statutory rent concessions and subsequent IFRS 16 issues. 

HRE Group® can assist with re-gear matters and demonstrate value realised by both sides.

Rent Reviews: these are contracted dates that need to be planned and budgeted for. Typically, they do not expire with the passing of time and representation is needed to advise and agree matters in advance of escalation to Third Party and associated cost exposure. 

HRE Group® advises across commercial asset classes and can quickly report on rental value together with negotiation strategy to avert escalation to Arbitrator or Independent Expert. In cases that are referred via RICS application, HRE Group® are able to work up submissions as needed.

Lease Renewals: these are critical events that need to be carefully managed and are influenced by whether the incumbent tenant has security of tenure or has taken occupation ‘outside the act’(Landlord & Tenant Act 1954). In instances where security of tenure applies, matters are controlled by government statute and advice is needed regarding timing and service of specific notices. 

HRE Group® has experience in lease renewal scenarios and can advise upon rental value whilst liaising with your legal representative in serving of notices and handling Court Directions if needed.

Residential

Flat Lease Extensions: these are statutory procedures under which a leaseholder is able to embark upon the formal process of extending their lease.  It is made under the Leasehold Reform, Housing & Urban Development Act 1993 (1993 Act) and is started by the service of a Section 42 Notice (Notice of Claim) served by the lessee on the freeholder.

HRE Group® advise upon premium calculation inputs; assist solicitors with serving of notices; and negotiate in advance of First-tier Tribunal. In cases that do escalate to Third Party, HRE Group® have experienced professionals able work in line with Court Directions and act at hearing. 

House Lease Extensions: HRE can also advise upon leasehold houses with premiums derived in line with the Leasehold Reform Act 1967 (the 1967 Act).

HRE Group® are able to advise upon appropriate valuation method - be it in line with qualification under Section 9(1) or Section 9(1A) of the Act - before deriving premium calculation inputs and assisting solicitors with notices.

Once in receipt of counter notice, we can negotiate and act all the way to hearing, should matters escalate to First-tier Tribunal.