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To approve the reviewed rent of the above
properties leased to Wilson Electrical Distributors Ltd. The
properties are held on 2 separate leases though the leases are
virtually identical.
In accordance with clause 7 of the leases, the annual combined
passing rent of £70,000 has been reviewed as at 1/12/21
(Note: rent to be backdated only to date that the head lease was
surrendered – 4/5/23) and it is proposed to increase it to
£77,100.

These units were occupied at the surrender date in May 23. The
former head lessee had failed to trigger the 12/21 rent reviews.
Accordingly, post surrender we decided to trigger the reviews and
after a period of negotiation our consultant recommends the matter
is concluded - the reviews being broadly in line with market
evidence at the review date.

A memorandum will be endorsed on the lease recording this
review.

If you have any queries, then please contact Charles Wood who will
be happy to provide further information.