Acting on behalf of a regional investor client, Mounsey Chartered Surveyors has recently agreed a backdated rent review of a substantial modern facility extending to 26,605 sq. ft which is occupied by the UK’s leading trampoline and adventure park operator, Flip Out.

Having originally negotiated the letting of the property on behalf of the client in 2015, the commercial property agent was instructed to advise the client on its Market Rent as at the November 2020 review date and undertake negotiations on their behalf with the tenant.

The review was completed promptly with the agreed rent reflecting the growth in the market for this type of property over the last 5 years, and in accordance with the review provisions set out within the lease.

James Craine of Mounsey Chartered Surveyors, who advised the client on this matter, commented: “We are delighted to have concluded this rent review on behalf of a long-standing client. The property is located on a popular business park and its characteristics are desirable for an occupier, notably it’s size, age and car parking/yard provisions.

“With the letting of new build accommodation in this sector having achieved record headline rents in recent years, this has positively impacted on rents for existing modern buildings such as the subject property.”