Landlord and tenant issues
Case studies
Release of a restrictive covenant to facilitate development
The client owned a residential property which was originally part of a larger landed estate. The quarter-acre garden was subject to a restrictive covenant prohibiting development. With the passage of time, things had changed and there was now an opportunity to sell the garden for a residential dwelling.
The client had been trying to negotiate the release of the covenant for several years. Within a few months of his instruction, Robert Chapman & Company was able to overcome the impasse by negotiating the release of the covenant. This resulted in
- A saving of £5000 in consideration for the release of the covenant
- A saving in time after several years of abortive attempts to reach an agreement
- A successful outcome for all parties.
Lease renewal
Robert Chapman & Company was appointed to act for the Glamorgan Record Office in the lease renewal of their existing premises - the ground floor of an historic building in Cardiff . The existing rent was £25,000 per annum. The proposal was to extend the lease for another 5 years.
The initial proposal from the Landlord's agent was for an increase in rent to £63,000 per annum.
After much debate and persuasive argument, Robert Chapman & Company negotiated a revised rent of just over £40,000 per annum, resulting in a much needed saving over 5 years of approximately £115,000.