Many tenants are unaware that the terms of their lease can be renegotiated at any time. If your business is struggling and you are paying rent that is more than 10% of your annual turnover, we can help.

Our partner - Cedar Dean - works on a success basis only, and they can support you with the following:

  • Rent restructure (re-gears, reductions, securing potential rent–free periods)
  • Clearing Covid arrears
  • Lease renewals
  • Rent reviews
  • Surrendering leases

How Members benefit

  • Free consultation
  • A pro bono review of your lease

How to get started

We are currently offering a pro-bono lease consultation to all BIRA members. To organise your free consultation, you can fill out this quick form...

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Cedar Dean’s Services

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Many companies will have struggled to pay rent over the past two years and could now be thousands of pounds in arrears. In order to ease up stress and allow for more cash flow, we would ask the landlord to forgive some or all the arrears and allow the tenant to keep trading. The loss of money on arrears is far less than the cost of getting a new tenant in should the current tenant go into administration – then the landlord won’t be able to claim anything back

Some companies may have a site that is losing money.

Particularly if they are in an area that has declining footfall, for loss-making sites, tenants may look to leave and find a new, more affordable location.

In cases like this, Cedar Dean will help the tenant to leave without having to pay a hefty fee to exit.

Some companies may have taken on lease terms that, in today’s climate, are not sustainable.

If a company is paying the same rent it paid pre- Covid when profits were higher as they are now that profits are still affected by Covid, then the terms are not favourable or conducive to profitable trading.

When you extend a lease in return of a variation of terms, including a rent-free period or overall rent reduction, this could mean removing a break clause or surrendering a portion 

Some companies may operate under a PLC but could have a couple of ltd subsidies or entities that their assets/ properties sit under.

We can offer advice on moving leases into different entities to increase a company’s strength/ safety and profitability.

If a company is coming to the end of their lease and want to renegotiate, we can work with them on the best approach to the landlord and try to secure new, more favourable terms be it a rent freeze for 6 months whereby the tenant doesn’t pay rent but puts the money instead into capital expenditure to improve the site. We can also look at a reduction in service charges, etc.

A rent review comes up in the middle of tenancy or every 5 years.Many landlords insist on an upward-only rent review which means that even if your business (and the wider economy) is suffering.

 We can help to negotiate a more favourable result at the stage of review and potentially a rent-free period.

Case Study: Independent Supermarket

Case Overview:

Cedar Dean was approached by an independent supermarket that had been referred to us by another client. The tenant had been at the site for 5 years, paying £90,000 in rent per annum and their lease was coming to an end. The landlord served notice for a new lease rent of £125,000, outside the Landlord and Tenant Act with no rent-free concession.

The landlord offered no support during COVID-19 and demanded the full rent be paid, even though the business suffered significantly due to lack of footfall during the multiple lockdowns.

Cedar Dean’s Approach:

Cedar Dean reviewed the tenant’s lease, their profit and loss accounts, and what neighbouring units in the area were paying. The case advisor prepared a bespoke approach for the landlord and proposed what an affordable rent could be.

Result:

Cedar Dean were able to secure a new lease ten-year lease at £100,000 in rent per annum that was inside the Landlord and Tenant Act as well as a three-month rent-free period.

About Cedar Dean

Cedar Dean are the UK’s leading lease restructuring specialists, working to revolutionise the commercial property market by campaigning for fairer rents.

Cedar Dean’s founder, David Abramson, is passionate about helping tenants. With over 25 years’ of experience in the property world, David has made it his mission to campaign for more affordable commercial rents within the UK and to help tenants to secure more favourable lease terms, particularly during times of economic distress.

Cedar Dean’s client list includes Kwik Fit, Tortilla, Clinton’s Cards, The Stonegate Pub Group, Geox, and Thomas Cook to name a few. Since the pandemic, they have opened up a new division that is dedicated to helping small to medium-sized businesses to save money.

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