Early into long lease, landlord proposed to renovate and refurbish but also relocate fruit and veg business into bigger premises, in a poorer location. Additional staff would be required to man larger shop with no logical reason to expect higher turnover.
End of lease. Following large extension, which created two food courts, original food court lost extensive foot traffic. GEM Lease Analytics™ software evaluation could not support a
new lease above $110,000. Business owner vacated and premises have been empty for over two years.
Proved misrepresentation by landlord. Business owner closed the business and settled with trade creditors four years before lease-end.
Major landlord was prepared to renegotiate lease rent 18 months early. GEM Lease Analytics™ evaluation supported circa $65,000. Business will be relocated to a slightly smaller store that is close to major anchor. Good outcome for both parties.
This was a genuine market review opportunity, backed by current facts. In this instance, the landlord had no facts backing up their case.
GEM Lease Analytics™ analysis supported landlord’s case for increments resulting in $550K annual rent by lease-end.
GEM Lease Analytics™ supported a CPI increment, down from 5%, hence obviating the need to have a Specialist Retail Valuer appointed to determine market rent.
Initial use of GEM Lease Analytics™ in submission to determining valuer. Since this step-by-step evaluation process was invented, important improvements have been made.