Peer Review Valuer’s Value’s Determined Gross Rent: $140,000 p/a
GEM™ Evaluation: $80,000 – $95,000 p/a
By Mediation Small Business Ombudsman: $114,000 or thereabouts
Total 5-year Benefit: $140,000
Five yearly market review by a valuer, went against all evidence, including sharp changes in catchment with new competition, etc. The valuer ought to have known a lot better because it was clearly presented to him.
A GEM Lease Analytics™ report supported $80,000 – $92,000. At Mediation parties represented by lawyers agreed to a new gross rent which over 5-years represented a $140,000 benefit.
It is submitted that this rent is still above a reasonable rent.
