Newcastle Upon Tyne

dohertybaines, acting for clients who hold a head leasehold interest in the property, agreed terms with the occupational tenants to remove a break option in return for 3 months rent free. It was further agreed that the rent free allowance would be spent on repairing the property, thus reducing both parties’ terminal dilapidation liabilities.

The removal of the break has resulted in a reduction in the clients holding costs by over £160,000.

Graham Pepper commented ‘We, at dohertybaines, explore all asset management opportunities within the portfolios we manage. We are aware of the importance of reducing our clients holding costs, particularly in the current economic climate.’