Don’t gamble with your commercial assets

Kirkby Diamond have recently been instructed by a national casino operator to undertake property audits on a number of commercial units across the country.

Our client manages a large portfolio of properties, many which they hold on a leasehold basis. As the market has shifted over the years, they have revised their property holdings and have sub-let some units to other occupiers. This means that they now must act as landlords on these properties to ensure that they are being maintained in accordance with the lease terms.

With inflationary market pressures, the owners of these properties are looking to increase rents, and are therefore carrying out rent reviews on our client’s property portfolio.

KD have been instructed to carry out interim inspections of these properties, to ensure that the sub-tenants are complying with the repairing terms of the lease.

We have also been instructed to provide advice in connection with rent reviews on these properties.

This instruction has taken our Building Consultancy and Lease Advisory teams across the country, visiting Wales, Cornwall and numerous properties throughout London.