CORPORATE LEASE COMPLETED - A newly converted block of 3 x 1 bedroom apartments let on a new 5 year lease with 5% upward only rent increases per annum
- The Development Group achieved a new 5 year lease with fixed 5% upward only rent increases per annum.
- After an initial sales programme by the Landlord, the Landlord decided to withdraw the property from the market due to increasing interest rates and declining demand for apartments across London. The Development Group successfully implemented the lease allowing the Landlord to refinance their property and hold it while the sales market improves.
- The lease allows for a mutual 3 year break clause.
- The Development Group achieved in excess of 15% above market rent for the Landlord providing a stable income and zero voids throughout the term.
- To learn more about how The Development Group can maximise the income of your block or if you are a Landlord, looking for a hassle free management solution, contact a member of the team now and we would be delighted to assist you.