The 27th Annual Rent Review Briefing
Fighting over the
Last Drop of Rent

• Why it is worth doing
• How to come out winning

Chair
Philip Freedman, Partner, Mishcon de Reya

Speakers
Graham Chase FRICS FCIArb, Chairman, Chase & Partners & Vice-President, RICS
Simon Curtis, Head of Lease Advisory, Cushman & Wakefield Healey & Baker
Eric Shapiro BSc FRICS FCIArb IRRV, Consultant, Moss Kaye Pembertons Ltd
Gary Webber, Barrister and Mediator

Case Law Relevant for the Current Market
• Weakening the presumption of reality
- Beegas v Decco
- Canary Wharf v Telegraph Group
• Hypothetical term
- Canary Wharf v Telegraph Group
- Chancebutton v Compass
• Court views on valuation principles
- Marklands v Virgin Retail
- Epoch Properties v BHS
• Notices and procedures
- Hemingway v The Clothworkers Company
- Lancecrest v Asiwaju
- Northern & Midland Holdings v Magnet
- Khokher v Arundel Corp
- Monella v Pizza Express
Philip Freedman, Partner, Mishcon de Reya

Rent Reviews in the Current Market
• Rent comparables and market analysis
• The hypothetical lease
- rent review terms to look out for
- effect of those terms on a valuation
• Latest thinking on tactics for negotiating rent review clauses
- landlord
- tenant
• The prospects for rental uplifts in the various sectors
• Applying the real world of the market to the hypothetical world of rent reviews
• Do willing parties have alternatives?
• The interaction of break clauses and rent reviews
Simon Curtis, Head of Lease Advisory, Cushman & Wakefield Healey & Baker

Drafting and Dealing with Non-Standard Rent Reviews – Alternatives to Upwards Only
• Up/down reviews
• Hypothetical premises
• Indexation
• Pegging
• Turnover rents
Graham Chase FRICS FCIArb, Chairman, Chase & Partners & Vice-President, RICS

Arguing and Proving the Case. Understanding where Advocacy Ends and Expert Valuation Begins
• Acting as advocate and expert
• Duties of experts
• Duties of advocates
• When to use Counsel
• Tips and traps for presenting the case
Gary Webber, Barrister and Mediator

What Weighs with the Expert/ Arbitrator
• Thorough preparation for preliminary meeting
- disclosure
• Well argued requests for directions (directions to press for/resist)
• Identification of practical problems relating to
- trigger notices and time limits
- notice served without prejudice and/or subject to contract
- no co-operation from one party
• Clear presentation of evidence
- strict proof vs hearsay
- quality of evidence
- collation of information and documents – strategy and tactics
• Clear presentation of legal points
Eric Shapiro BSc FRICS FCIArb IRRV, Consultant, Moss Kaye Pembertons Ltd