Category: Kinney Green

I heard something truly shocking the other day: the number of London pubs fell by a quarter between 2001 and 2016. In just 15 years, the capital went from 4,835 pubs down to 3,615. That’s a loss of 1,220, or roughly 81 per year.

The reasons for this decline are well known. Rising rents, higher business rates, increased wages, and the smoking ban have all played a part. But these factors don’t tell the full story. Other forces are reshaping the social scene.

Diversify or Die

Over the past year, the Kinney Green Leisure team has seen an astonishing variety of requests. From laser tag arenas to bridge bars, the 21st-century Londoner demands more than just a pint and a jukebox.

Bars with a clear focus are thriving. Flight Club makes darts a social spectacle. Bounce puts ping pong at the centre of the evening’s fun. Spaces like Pop Brixton and Boxpark offer something new: part restaurant, part bar, and not quite a club. These “fourthspaces” are hugely popular with both retailers and punters.

Pop Brixton, built on disused land in the heart of Brixton, has given chefs, brewers, and mixologists a platform to showcase their talents. Success stories abound. My favourite is Kricket. It grew from a tiny Brixton stall into a critically acclaimed Soho restaurant, with queues permanently outside its Denman Street doors.

Creativity in repurposing space is particularly exciting in retail property. I can’t wait to see the UK’s largest foodhall open in the now-defunct BHS Oxford Street. It will span 36,000 sq.ft, featuring 25 restaurants and four bars, curated by Simon Anderson of Pitt Cue Co. fame.

Changing Tastes, Changing Times

Attitudes and tastes are evolving. Diners now want artisan Gloucester Old Spot Pork Pies with their small-batch gin and tonics. Some enjoy minimalist bass lines with their Caipirinhas. Others prefer a game of Buckaroo with their Guinness.

As London pubs continue to decline, innovative social spaces are stepping in to meet these new demands. But it’s important to remember the roots of our city’s drinking culture. Spare a thought for where it all began. Pay a visit to your Rose & Crown, pop into your Lamb & Flag, and support your London pubs. These historic locals must coexist alongside modern venues like Boxpark.

Kinney Green Chartered Surveyors and Property Consultants are experts in Central London retail markets. For advice on business rates, lease renewals, or property decisions, contact Neil Warwick for professional guidance.

Transport for London (TfL) has confirmed that the cost of acquiring land for the Crossrail 2 project is likely to increase. Crossrail 2 safeguarding costs are expected to rise due to gaps in current protections.

Recent reports highlight concerns about sections of the proposed route. Some areas remain at risk because safeguarding measures do not cover all required land. This lack of protection could allow development to take place. As a result, Crossrail 2 safeguarding costs may increase if TfL must buy the land later.

Safeguarding is a formal process carried out by the Department for Transport (DfT). It protects land needed for major infrastructure projects. Without it, developers can build on land that may later be required. This can significantly increase acquisition costs.

TfL had planned to update safeguarding measures after a new round of public consultation. This was originally scheduled for early 2018. However, the process has been delayed. It is now expected in the first quarter of 2019. This delay will push back the Hybrid Bill submission. It is now likely to move from May 2020 to the early 2020s.

Kinney Green continues to monitor developments related to Crossrail 2. The firm is updating landowners and businesses that may be affected. For further information, please contact Neil Warwick.

From university to the London office market

By Becky Huckstep, Graduate Surveyor

The London office market has been my focus since I joined Kinney Green’s City and Midtown office agency team in September 2017. Working under Neil Warwick, I have seen firsthand how BREXIT and market uncertainty can influence investor sentiment, yet the market has also shown resilience and steady growth.

Despite frequent talk of uncertainty, 2017 was a strong year for the London office market. City office take-up exceeded 2016 by 26%, reflecting rising confidence among occupiers. Overseas investors, particularly from Asia, continued to view London as a safe destination for capital, driving significant activity in key locations.

Keeping up with market trends is vital for my role and my APC training. Reading reports, analyzing transactions, and monitoring leasing patterns help me understand the bigger picture. I have found observing the influx of international investors particularly insightful, as it highlights which building types and locations are most in demand.

Networking is equally important. Thursday evenings at The Loop in the West End have become a regular fixture, serving as both a social and professional meeting point for University of Reading alumni and property peers. Sharing experiences and industry insights has strengthened my connections and broadened my understanding of the market.

The festive season also provided opportunities to connect. The Kinney Green Christmas party at The Wilmington Arms in Farringdon ended with lively celebrations at Piano Works, creating lasting memories and reinforcing professional relationships.

Looking ahead to 2018, I am excited to continue my career in the London office market, progressing through my APC and working toward becoming a Chartered Surveyor. The sector remains vibrant and resilient, with opportunities for early-career professionals. I am particularly interested in emerging trends such as coworking spaces and flexible office solutions, which reflect the evolving demands of modern workplaces.

Christmas is my favourite time of the year, a time for indulgence: mulled wine, pigs in blankets, cosy pubs with open fires, and, most importantly, moments spent with friends and family. But Christmas also brings an annual chore: the unavoidable task of Christmas shopping.

I am terrible at Christmas shopping, catastrophically awful, in fact. Before moving to London, I used a simple cheat: I popped to the local Tesco on Christmas Eve and bought everyone in my close family a litre of gin. If my parents got lucky, I might even grab a bottle of wine from their own wine rack, gift-wrap it, and hand it to them lovingly.

Times have changed. I no longer have youth or poverty as excuses, I now work in the big city. Recycled bottles of wine and 40% spirits no longer impress anyone; expectations are higher. I refused to visit Oxford or Regent Street in December, and Westfield remained off-limits. It was time to get creative.

Then, a Christmas miracle happened. My colleague, a loyal comrade in the fight against Christmas shopping, leaned over and said two magical words: “Amazon Prime.” Silence followed. Then he added even more magical words: “Free trial.” I was sold.

In the following weeks, I ordered gifts of Gold (Pandora bracelet), Frankincense (J’Adore Dior perfume), and Myrrh (slippers for Nan…), and the courier hand-delivered them to my desk within 24 hours. The game had changed. Online Christmas shopping had turned the annual chore into a breeze. Rejoice!

Retail attitudes are changing rapidly. Figures show that retailers with strong online shopping operations perform admirably. High street stalwart NEXT increased its online sales by 13.6% in the eight weeks leading up to 24th December 2017. Online fashion retailer BooHoo doubled its revenues to £228m in the four months ending December 2018.

The rise in online shopping puts pressure on the high street. Many retailers close shops to consolidate their portfolios—M&S recently announced several store closures. The A3 restaurant sector faces similar challenges: consumers enjoy more choice, which forces casualties on the high street. Byron Burger recently closed around 20 sites and considered a CVA agreement for remaining locations to stay afloat.

While retail struggles, the industrial sector thrives. Prime rents are soaring, yields are sharpening, and capital values are reaching new heights. Well-located, high-spec warehouse space drives online retail, so much so that in 2016, Amazon accounted for 25% of all industrial lettings in the UK. Developers now commonly secure pre-lets on prime industrial space, and “super-sheds” of up to 1 million sq. ft. remain in high demand nationwide.

At Kinney Green, we specialize in central London office and retail sectors, as well as industrial property across the South East. If you need commercial property advice, our professionals can help—contact details appear in the ‘About Us’ tab above.

A new Electronic Communications Code now governs telecommunications apparatus on land and buildings. The code gives telecommunication network operators the right to take property owners to court if they refuse permission to install equipment, such as mobile phone masts. It also limits landlords’ ability to remove apparatus when leases expire.

Landlords who host apparatus on their property should seek professional advice to understand how the code may affect their property value.

The government wants to align rents with those paid by utilities and other essential service providers through a “no scheme” valuation system. The code now values land based on what the landowner receives rather than what the operator would pay. This change will likely reduce rents and compensation for land use. Landlords may face higher costs due to disputes over compensation rates.

Operators can now upgrade or share their equipment without seeking landlord consent. Landlords will lose the ability to earn extra income from additional apparatus or site-sharing agreements. If an operator assigns its rights in the equipment or lease, landlords cannot negotiate new terms.

The new code explicitly prohibits landlords from contracting out. Landlords cannot secure terms that are more favourable than those specified in the code.

If landowners refuse consent for equipment installation, the code provides a faster dispute resolution process. This change reduces delays and legal costs.

Operators cannot rely on the Landlord and Tenant Act 1954 for security of tenure under the new code. Landlords must follow termination procedures, but the code clarifies when they can remove apparatus. If operators fail to issue a counter-notice, landlords may remove equipment once code rights expire.

The code applies only after it comes into effect and does not affect existing contracts.

Previously, rents made hosting telecommunications equipment an attractive option for landowners. The “no scheme” valuation system will likely reduce these returns. In addition, the inability to contract out places landlords in a weaker negotiating position compared to the old code.

Landlords with telecommunications apparatus on their land or buildings should seek valuation and legal advice to understand the new Electronic Communications Code. For guidance, contact Chris Jakes.

Heathrow has revealed detailed plans for its Heathrow Airport expansion, including major changes to the A4, M25, terminal buildings, and a new third runway.

The airport has launched a 10-week public consultation and is inviting residents to share their views. It is also asking for feedback on potential rules for redesigning airspace.

Heathrow has not yet designed any flight paths. It will submit a planning application after completing further consultation. The airport plans to begin construction in early 2021 and aims to complete the runway by the end of 2025.

To deliver the Heathrow Airport expansion, Heathrow will acquire land, businesses, and residential property through Compulsory Purchase Powers. You can find more information about Kinney Green’s services here: https://www.kinneygreen.com/professional/compulsory-purchase/

For more details on the consultation, visit: www.heathrowconsultation.com

Take a moment to review our Rating brochure, which explains the business rates appeal process, including the key stages of Check, Challenge, and Appeal.

Understanding this process can be complex, particularly for property owners and occupiers who are unfamiliar with how business rates valuations work. The system requires careful attention to detail, accurate property information, and a structured approach to achieve the best possible outcome.

Our brochure provides a clear overview of each stage. It explains how to check your property details, identify potential inaccuracies, and challenge your valuation where appropriate. If needed, it also outlines how to progress to a formal appeal. This guidance can help you avoid common mistakes and approach the process with greater confidence.

Many businesses miss opportunities to reduce their rates or experience delays because they do not fully understand the requirements at each stage. Having access to clear and practical information can make a significant difference when reviewing your position.

The brochure also highlights key timelines, responsibilities, and considerations that may arise during a case. Whether you are preparing to submit a challenge or simply reviewing your current assessment, it is important to understand your options and obligations.

By taking the time to understand the process, you can make more informed decisions and ensure that your property is assessed fairly. Our guide offers straightforward advice to help you navigate the business rates appeal process more effectively.

Click here to learn more about the business rates appeal process and download the brochure.

Are serviced offices set to dominate the London occupational market?

It is the topic of conversation among West End and City office agents: are they embracing change?

The growth of London serviced offices has become a hot topic. Over recent years, the sector has expanded rapidly. It has evolved from a market once dominated by start-ups needing little more than a postal address to a mature, thriving industry. Today, the UK leads the global serviced office market. London serviced offices account for 34% of the UK footprint and have grown 31% since 2008.

For the first half of 2017, the sector accounted for 9% of take-up in the City and 8% in the West End. Tenants are increasingly willing to pay the ‘premium’ rents associated with serviced offices. In return, they gain greater flexibility and the advantages of fixed costs without the risks of a conventional lease.

Flexibility and minimal start-up costs are key factors, especially for smaller occupiers. But these are not the only reasons for growth. Larger occupiers are also attracted to co-working and serviced offices. These spaces offer opportunities to collaborate with creative companies and access a growing talent pool.

We do not view the sector as a threat. On the contrary, its fluidity and flexibility complement the traditional leasing model. This gives tenant clients more choice. We have embraced the sector and are assisting major operators with ambitious growth plans.

Recently, we advised Prospect Business Centres on acquiring approximately 17,000 sq ft at 20 Midtown on Proctor Street, WC1. Prospect identified Midtown as an area of interest. After finding 20 Midtown as an ideal building, we negotiated terms on their behalf. They will soon open their first Midtown centre.

Some landlords worry about covenant strength. Most operators take leases in a special purpose vehicle (SPV) with additional surety, often a limited parent company guarantee. Long gone are the days of Ouvagh Highfield and Southern Cross. Operator failures are rare today.

Operators are increasingly willing to sign long-term leases. In fact, most prefer a minimum term of ten years. The message is clear: whether acting for landlords or tenants, larger firms and corporates must adapt to the ever-changing occupational office market.

Kinney Green has been appointed by National Grid to support the London Power Tunnels Project, Phase 2. The firm will identify and acquire land in South London, between Wimbledon and New Cross. As a result, the project will create a new electricity superhighway deep beneath the capital. It will increase capacity to meet London’s growing electricity demand.

The development requires tunnel drive sites, intermediate shafts, and head houses at key points along the route. These facilities ensure safety during construction. They also provide access for maintenance and store ventilation equipment. Kinney Green’s expertise in the London market allows them to advise on physical and viability constraints. Consequently, each site meets operational needs effectively.

In addition to land acquisition, Kinney Green identifies off-market opportunities for site assembly. This means that National Grid can secure strategic parcels efficiently. Moreover, by leveraging local knowledge and market insight, Kinney Green helps manage project risk and supports timely delivery of the London Power Tunnels Project.

Phase 2 highlights the growing complexity of London infrastructure. Furthermore, it will improve energy capacity, support new development, and strengthen the capital’s electricity supply. Kinney Green’s role shows how specialised real estate advice makes large technical projects feasible. In particular, they navigate regulatory and logistical challenges effectively.

By combining market knowledge, technical insight, and practical experience, Kinney Green delivers tailored solutions for high-stakes development projects. Therefore, their involvement ensures key sites are identified, acquired, and prepared efficiently. This contributes to one of London’s most ambitious infrastructure programmes: the London Power Tunnels.

Kinney Green is pleased to announce that former Senior Partner Nick Eden has been awarded a Regent’s University Fellowship.

This Nick Eden Regent’s University Fellowship recognises his long-standing contribution to property consultancy services delivered to the University over a number of years. During this time, he has provided strategic advice and supported a wide range of property-related projects.

Nick Eden has developed a strong relationship with Regent’s University through his consistent and professional approach. In addition, his expertise has supported the effective management of the University’s property interests while helping to shape long-term planning decisions. As a result, this recognition highlights both his technical knowledge and his commitment to delivering high-quality consultancy services.

Furthermore, the award reflects the importance of collaboration between Kinney Green and Regent’s University. The University remains a valued client, and the firm continues to provide ongoing property advice and support across its estate. This long-standing partnership demonstrates trust, reliability, and shared success.

Kinney Green has extensive experience in the education sector and works with a range of institutions across the UK. The firm provides tailored property consultancy services that support both day-to-day operations and long-term strategic planning. Its expertise ensures that clients can manage and develop their property assets effectively.

Overall, this fellowship highlights both individual achievement and the strength of the relationship between Kinney Green and Regent’s University. The firm looks forward to continuing its work with the University in the years ahead.

Deciding between a lease renewal or relocation can be a complex choice for any business. Each option comes with its own advantages, and selecting the right direction depends on your organisation’s current needs and future plans.

To make this decision easier, Kinney Green has created a simple and engaging visual guide inspired by the London Underground map. This “KG Tube Map” is designed to help clients navigate the key considerations involved in choosing between staying in their existing space or moving to a new location.

The map breaks down important decision points into clear “stops,” allowing businesses to assess factors such as cost, flexibility, space requirements, and long-term strategy. As a result, the lease renewal or relocation process becomes easier to understand and more accessible for decision-makers.

In addition, the guide highlights the practical implications of each route. For example, renewing a lease may offer stability and reduced upfront costs, while relocation can provide opportunities for growth, improved facilities, or a better location. By setting out these options visually, the map helps businesses compare outcomes more effectively.

To ensure the guide was both useful and engaging, Kinney Green distributed the Tube Map to clients in a printed format, delivered directly by post. This approach reflects the firm’s commitment to providing clear, practical advice in a format that is easy to use and understand.

Ultimately, choosing between a lease renewal or relocation is not always straightforward. However, with the right guidance and a structured approach, businesses can make informed decisions that support their long-term objectives.

Kinney Green advised Firezza on the acquisition of their first specific A3 restaurant in prime Soho. The Kinney Green Firezza Soho deal marks an important step as the brand expands its presence in central London. The move also strengthens its footprint in high-profile trading locations.

The 2,500 sq ft restaurant on Dean Street now trades and introduces a new venture for the long-established client. The site attracts strong footfall and benefits from excellent visibility. Soho’s vibrant dining scene made it a strategic choice for Firezza’s continued growth. The location supports both dine-in customers and delivery demand.

Firezza, purchased in 2016 by Pizza Express, continues to evolve its estate across London. Kinney Green has supported the brand on multiple acquisitions throughout Greater London. The team provided advice on site selection, negotiations and market positioning. This latest Soho opportunity builds on that long-standing relationship.

The Dean Street restaurant allows Firezza to engage with a diverse customer base. Office workers, residents and visitors all contribute to steady demand. The area remains one of London’s most dynamic food and beverage districts. This environment suits Firezza’s offering and growth ambitions.

Kinney Green continues to advise operators on restaurant acquisitions across London. The firm supports clients with strategic expansion plans. It also helps identify locations that deliver long-term value. The Soho acquisition demonstrates continued confidence in central London hospitality.

We wish the company continued success with their new Soho restaurant.

The Newbigin v Monk ruling delivered by the Supreme Court overturned an earlier Court of Appeal judgement. The decision favoured the ratepayer and created a landmark outcome for buildings undergoing extensive refurbishment and redevelopment.

The long-running case concluded with the Supreme Court supporting Monk, whose property in Sunderland underwent significant redevelopment works. Contractors stripped out the building and removed services and internal fit-out. During the works, Monk submitted an appeal to reduce the Rateable Value to £1. The appeal argued that the property did not allow beneficial occupation on the Material Day.

The Valuation Office Agency argued that the property should reflect what a hypothetical tenant would pay a landlord. Their approach relied on assumptions about use and condition. One key assumption stated that the property remained in a reasonable state of repair unless repairs proved uneconomic. The Valuation Office maintained that reinstatement would remain economic on the Material Day.

Based on that position, the Valuation Office valued the property as if occupation could take place. This approach produced a Rateable Value of £102,000 despite the ongoing redevelopment works.

The Supreme Court rejected that argument. The judges stated that the valuation must reflect the rating hypothesis known as the presumption of reality. They confirmed that the property genuinely underwent redevelopment. As a result, the assessment needed to consider whether beneficial occupation could occur before any assumption about repair.

The court concluded that properties incapable of beneficial occupation should receive a nominal Rateable Value. This interpretation provides clarity for owners undertaking major refurbishment projects.

The Newbigin v Monk ruling affects a large number of outstanding appeals. Many cases now require reassessment using the same principles. However, uncertainty remains about how the Valuation Office Agency will address the backlog. A cautious or phased approach may follow as further guidance emerges.

Kinney Green rent review London specialists have successfully concluded negotiations on behalf of Kucher & Partners at 1 Plough Place in London’s Mid-Town market. The outcome followed detailed market analysis and complex discussions with the landlord, demonstrating the value of expert Kinney Green rent review London advice.

Neil Warwick, who leads the Kinney Green Mid-Town Agency Department, originally acquired the space for Kucher & Partners in 2011. The firm remains a long-standing client of Kinney Green. This existing relationship allowed the team to provide consistent advice and continuity throughout the rent review process. The team also drew on historic knowledge of the building and previous negotiations.

The area surrounding 1 Plough Place has changed significantly in recent years. The adjacent New Street Square development transformed the local environment, and the completion of New Fetter Place increased competition for office space. Strong market movement across the Holborn area added further pressure. These factors made the rent review particularly challenging and required careful analysis of comparable evidence.

The landlord initially served notice at £542,000 per annum, representing a proposed increase of 40 percent. Kinney Green carried out detailed analysis of market transactions across the Mid-Town area and reviewed the lease provisions in detail. This approach allowed them to challenge assumptions used to support the higher figure, showcasing the expertise of Kinney Green rent review London specialists.

Following negotiations, the parties agreed a rent of £483,000 per annum. This outcome delivered a significant saving for Kucher & Partners, representing an overall saving of £295,000 over the next five years. The result highlights the importance of working with specialists experienced in complex rent review negotiations.

Mark Billige, Managing Partner at Kucher & Partners, praised the long-standing relationship with Neil Warwick and the Kinney Green team. He also highlighted their knowledge of the local market and practical support throughout the process.

Kinney Green continues to advise occupiers and landlords on rent reviews across London. The team supports clients with strategic negotiations, market intelligence, and lease advice. For upcoming rent reviews or landlord and tenant matters, contact the Kinney Green professional team for expert guidance.

Kinney Green Clean City awards success continued in 2016. The management team secured two Gold awards at the Clean City Award Scheme. This marks the second consecutive year they have achieved this recognition. The awards highlight the firm’s commitment to sustainability and responsible waste management in the City of London.

The Clean City Award Scheme was established in 1994. Its main goal is to develop partnerships with businesses in the City and promote responsible waste management. The scheme recognises buildings that actively manage their waste, adopt sustainable practices, and show ongoing improvement in environmental performance.

To achieve the Gold award, a building must demonstrate continuous efforts to reduce and manage waste. Buildings must implement recycling initiatives, minimise landfill contributions, and maintain sustainable procedures. Kinney Green’s management team successfully met these criteria. This reflects the firm’s dedication to operational excellence and environmental responsibility.

John Nguyen, a key member of the management team, said: “We are proud to continue setting high standards for waste management. Winning the Gold award for a second year demonstrates our commitment to sustainability and best practice in the City.”

The recognition provides a benchmark for other buildings. Kinney Green encourages owners and managers to adopt similar initiatives. These steps help achieve high standards and comply with industry best practices.

For managers looking to improve sustainability or compete in future Clean City Awards, contact John Nguyen at the Kinney Green Management Team. The team offers advice on waste reduction, recycling strategies, and sustainable property management.

Kinney Green partner promotion news highlights key leadership developments. Firstly, the firm is delighted to announce that Chris Jakes has been promoted to Partner. Henry Brewster has also been promoted to Associate Partner. These promotions recognise their contributions to the West End Agency and Professional Services teams. Therefore, the Kinney Green partner promotion demonstrates the firm’s commitment to recognising talent and leadership excellence.

Chris Jakes has played a central role in expanding the firm’s West End Agency operations. As a result, his leadership has helped secure major client assignments and drive strategic growth. Henry Brewster has contributed significantly to the Professional Services division. Additionally, he has supported both clients and internal initiatives that strengthen the firm’s overall service offering.

The promotions reflect the firm’s ongoing investment in staff and leadership. Both Chris and Henry have demonstrated consistent excellence, contributing to client success and the firm’s broader objectives. Their work has reinforced Kinney Green’s reputation in the London property market. Moreover, this Kinney Green partner promotion ensures leadership remains strong and prepared for future expansion.

Clients and colleagues have praised the promotions. In particular, the move recognises individual performance, teamwork, client service, and strategic growth. Kinney Green sees these appointments as a key step in maintaining high standards and supporting future business development.

Both Chris and Henry will now take on additional mentoring responsibilities. For example, they will guide junior staff, lead key client projects, and help develop internal training programmes. Furthermore, their promotion allows them to contribute to firm-wide initiatives, including service innovation, operational improvement, and client engagement. This ensures that Kinney Green’s leadership structure remains strong and client satisfaction continues.

Finally, the firm emphasises that recognising talent is critical to long-term success. By promoting key team members, Kinney Green ensures continuity in service quality and leadership excellence. For further information on the West End Agency, Professional Services, or the leadership team, please contact the firm’s office directly.

The Kinney Green professional team has successfully concluded rent review negotiations on behalf of the Grosvenor Hotel at 92 Park Lane, Mayfair. As a result, the final agreement delivers a 110% rental increase. This increase will generate an additional £600,000 income for the hotel over the next five years. Moreover, the outcome demonstrates Kinney Green’s expertise in achieving substantial results for high-profile clients.

The property is tenanted by Foxtons Estate Agent. During negotiations, the team analysed market data, comparable rents, and lease terms to secure the best possible outcome. Furthermore, the Kinney Green rent review Mayfair team worked closely with both the hotel and the tenant to ensure a smooth process and a mutually agreeable solution.

This result highlights the value of specialist advice for properties in prime locations. In particular, Park Lane continues to experience strong demand, making professional guidance essential to achieving maximum rental value. Therefore, clients benefit from Kinney Green’s deep knowledge of the Mayfair market and extensive experience in complex lease negotiations.

Additionally, the team considered factors such as market trends, tenant turnover, and property condition. This comprehensive approach ensured that the rent review reflected both current market conditions and the long-term value of the property. As a result, the hotel secured an outcome that exceeds expectations.

Should you have an upcoming rent review or wish to discuss landlord or tenant matters, Kinney Green can provide expert guidance. The professional team offers detailed market insight, strategic advice, and support at every stage of the lease negotiation process. Finally, this achievement reinforces Kinney Green’s reputation for delivering results in London’s competitive property market.

The team continues to assist landlords and tenants across the city, ensuring outcomes that reflect both market conditions and client objectives. Overall, this case exemplifies the benefits of working with a specialist team for high-value commercial property negotiations.

As you may be aware, the Rating Revaluation 2017 draft list is published today, detailing the new rateable values that will apply to assessed properties from 1st April 2017. These values are based on rental levels reflecting the rating hypothesis the Valuation Office considered applicable at 1st April 2015. Therefore, property owners should review the draft list carefully.

We recommend, in the first instance, that we check your new valuation against your current one. If you haven’t already, please let us know so we can assist. This ensures you understand any potential changes to your liability and plan accordingly.

The last revaluation took place in 2010, and the 2017 Revaluation was delayed for two years by the Government. Currently, the highest increases are anticipated in London. While Transitional Relief (TR) will be reintroduced to limit immediate increases, larger companies with an RV over £100,000 will receive less relief. Additionally, uncertainty remains over whether the rate poundage will continue to rise in line with inflation.

Rate demands to establish your new liability will be issued in March 2017. However, until then, we can review your current liability from 2010. If TR is reintroduced and your liability is reduced, there may be a knock-on benefit for several years.

We also must adopt the Valuation Office’s new mantra: “check, challenge, appeal.” This system is protracted, costly, and complex. Furthermore, over 300,000 outstanding appeals remain unresolved before the VO can even fully consider the 1.96 million new assessments.

Finally, be cautious of false promises. While the VO can reduce assessments, they also have the power to increase them. Therefore, working with experienced advisors ensures that any appeal or challenge is carefully managed and maximises potential benefits.

Kinney Green’s Professional Department has been instructed to advise on three retail rent reviews on City Road, EC1. These City Road retail rent reviews highlight the firm’s expertise in handling commercial property matters in busy urban locations.

The three units are all in the Lexington Building. It is close to Old Street Roundabout, also called Silicon Roundabout because of its popularity with web and mobile app companies. Moreover, the area is experiencing significant regeneration. The White Collar Factory by Derwent London and The Bower by Helical Bar are both under construction.

The units are tenanted by Subway, Café Nero, and Abokado. During negotiations, Kinney Green will review market rents, lease terms, and nearby comparable properties. Furthermore, the team will work with both tenants and landlords to reach fair and efficient agreements.

This set of rent reviews shows the importance of specialist advice in fast-changing locations. In particular, City Road’s regeneration is increasing demand for quality retail space. As a result, expert guidance ensures that rental values reflect current market conditions.

Kinney Green’s approach includes market research, financial modelling, and strategic negotiation. Additionally, the team advises on lease clauses, tenant improvements, and potential future rent reviews. Ultimately, this approach helps both landlords and tenants achieve long-term benefits.

For more information on City Road retail rent reviews or upcoming London rent reviews, please contact the Kinney Green Professional Department. The team provides tailored guidance to support landlords and tenants across the capital.

We are delighted to announce that Kinney Green has been instructed to advise the landlord of 77-95 Victoria Street, SW1, on the June 2016 rent review. This Victoria Street SW1 rent review covers approximately 43,200 sq.ft of office space. The space is arranged from the basement to the seventh floor.

77-95 Victoria Street is an eight-storey office and retail building. It totals 53,000 sq.ft and was constructed in the 19th century. The building occupies a prominent corner on the south side of Victoria Street. It is located at the junction with Parliament Square. As a result, the property benefits from excellent visibility and easy access to key transport links.

The rent review will assess current market rents and lease provisions. During the process, Kinney Green will review comparable office and retail properties nearby. Furthermore, the team will provide strategic advice to the landlord. This ensures that the rental outcome reflects market conditions and the building’s prime location.

This assignment highlights the importance of specialist advice for high-value properties in central London. In particular, the proximity to Parliament Square and major commercial hubs makes accurate valuation essential. As a result, careful analysis protects both landlord and tenant interests.

Kinney Green’s approach includes detailed market research, lease analysis, and negotiation strategy. Additionally, the team evaluates tenant profiles, lease terms, and possible building improvements. Ultimately, this helps secure fair rent and supports long-term rental growth.

For more information on the Victoria Street SW1 rent review or any upcoming London rent reviews, please contact the Kinney Green professional team. They provide expert guidance on office and retail property matters across the capital.

We are pleased to welcome Luc Griffiths to the Kinney Green professional team. His arrival strengthens the firm’s expertise in property advisory and client services. As a result, the professional team is even better positioned to support landlords, tenants, and investors across London.

Luc recently completed an MSc in Real Estate Management at the University of the West of England, Bristol. Prior to that, he studied BSc Geography & Planning at Cardiff University. This educational background gives him a strong foundation in both property management and urban planning principles.

Luc says, “I am tremendously excited to join a fantastic team here at Kinney Green. I am also looking forward to embarking on the APC process in the coming weeks.” Furthermore, his enthusiasm reflects the firm’s focus on developing talent and supporting professional growth.

The addition of Luc to the Kinney Green professional team demonstrates the firm’s ongoing investment in staff and expertise. In particular, his academic qualifications and fresh perspective will contribute to both client projects and internal initiatives. As a result, the team is better equipped to provide detailed market analysis, strategic advice, and practical solutions across the property sector.

Kinney Green takes pride in nurturing emerging talent. Additionally, Luc will gain hands-on experience working alongside experienced professionals, helping him develop skills that directly benefit clients. Ultimately, this ensures that the professional team continues to deliver high-quality advice and service.

For more information about the Kinney Green professional team or to discuss property matters in London, please contact the firm directly. The team offers tailored guidance on real estate transactions, valuations, and strategic property advice.

The EU referendum and its potential impact on London property markets remains a key concern in 2016. There is still a continued lack of supply of commercial accommodation in London. Demand continues to put pressure on rents. Considerable increases at review or renewal are now commonplace. Early consideration is essential due to likely competition in the marketplace. Professional advice is therefore vital.

The effect on capital values is also apparent. For the time being, economists believe that a Brexit could dampen prospects for commercial real estate. In the short term, yields have remained stable. However, if the country decides in favour of a Brexit on 23rd June, prolonged uncertainty may follow. This could negatively impact investor sentiment.

Careful consideration of review and lease renewal strategy is essential. The effects could be long term. Market changes may influence negotiations and values of both leasehold and freehold property. Kinney Green is able to offer a thorough understanding of the current market. Our analytical approach considers specification, location, and lease term. This ensures the best outcome for our clients.

Occupiers and investors should monitor market activity closely. Clear evidence from completed deals will guide rent levels and incentives. A cautious approach may create opportunities for tenants to negotiate improved lease terms. Early engagement and structured negotiations remain key to securing favourable outcomes in London’s commercial property market. Businesses should also consider flexibility within lease structures, break clauses, and future expansion requirements. Market conditions may change rapidly depending on the referendum outcome. Securing favourable terms now could mitigate risk. Landlords and tenants alike should review their positions carefully and take professional advice before entering negotiations.

The Minimum Energy Efficiency Standards (MEES)

The Minimum Energy Efficiency Standards (MEES) will become effective on 1 April 2018. As a landlord or tenant, do you know what issues could affect you?

It is clear MEES could have significant impacts for both landlords and tenants on lettings, valuations, rent reviews, and lease renewals. We highlight below a few points to give thought to, but first a quick reminder of what we are dealing with.

What are Minimum Energy Efficiency Standards (MEES)?

The Energy Act 2011 first introduced the MEES regulation. It stipulates that a non-domestic property with an EPC cannot be let if it is rated F or G after 1 April 2018.

Furthermore, in 2023 all properties with an EPC must comply, whether being let or not. There are some exclusions to MEES, such as lettings under 6 months or listed properties.

Lease Renewals and Valuation

A lease renewal under the Landlord and Tenant Act 1954 entitles a tenant to a lease on similar terms to the existing lease. The valuation assumptions differ from rent reviews.

However, if existing case law is applied to MEES compliance, this could have a valuation impact on renewal. The disregard of tenant improvements under Section 34 could result in further valuation complexities if those improvements achieved MEES compliance.

Having a clear idea of where your property stands is vital, as it helps identify negotiation arguments and potential solutions.

Landlord Responsibility

The onus is on the landlord to upgrade the property through cost-effective Relevant Energy Efficiency Improvements (REEI). These must be implemented prior to letting.

Purpose and Impact

Introducing mandatory regulations to improve a property’s energy efficiency is, at face value, a good way forward. It helps future-proof the UK’s building stock and supports carbon emission reduction targets.

We are in favour of these initiatives. The medium to long term view should result in energy cost savings and a reduction in greenhouse gases. However, as with all new regulations, there are potential ramifications once you consider the logistics.

These regulations could affect rental values at rent review or lease renewal, and therefore capital values and possibly future yields.

Lease Issues to Bear in Mind

A rent review at or beyond 1 April 2018 will make certain assumptions on the ‘hypothetical letting’. One assumption is whether tenant’s improvements should be disregarded.

It is quite possible that the property only achieves an energy efficiency rating of E or below because of tenant’s improvements, for example building services and new LED lights.

Therefore, if improvements are disregarded, that fact potentially renders the hypothetical property unlettable in its existing state. Also, can the property be assumed to be ‘fit and available for immediate occupation’ if the required EPC level is not in place?

There are existing precedents that could be extended to apply to MEES compliance. The cost of such improvements could be taken into account at review, and case law and time will determine what becomes accepted.

There is an argument that rent reviews before the compliance date, for terms extending beyond, will also reference the requirement as a factor.

A Few Points to Think About

1. The current EPC rating is key to any future works required and potential lease negotiations. Have you considered the EPC ratings for your properties, and are the EPCs robust enough to be scrutinised and verified? Ensuring you have accurate EPCs with all the background data is essential as a first step for any negotiations.
2. Were tenant’s improvements responsible for lowering the EPC to E or better, and do both parties have all the necessary documents and consents in place?
3. Is your property E rated? It could slip over the threshold into an F due to future Building Regulations introducing enhanced energy performance requirements. An EPC calculation is dynamic and refers to current Building Regulation requirements. Future changes could see your property move to an F. Plan to future-proof these buildings.
4. Are you clear what constitutes an REEI? Can it be implemented as part of a planned maintenance programme?
5. Have you considered the potential impacts for a rent review or lease renewal? Are there break clauses coming up where these regulations may be used for negotiation?
6. Are there any REEI exclusions that apply? For example, are there reasons why consent to works would not be available, or could any REEIs actually devalue a property?
7. As a tenant, is it possible you will become a landlord in the future due to subletting? You will need to consider these regulations in that context.

Planning Ahead

Two years or 24 months may seem a long way away, but the clock is ticking to fully consider each property, either owned or occupied, that may be in scope, and then plan for the improvements and outcomes.

John Nguyen joins Kinney Green to further develop the firm’s strong management services offer.

John Nguyen joins Kinney Green from Cushman & Wakefield, where he has spent the last two years within the Global Occupier Services team. In this role, he managed a number of property portfolios for high-profile clients including Royal Mail, Pizza Hut, KFC, and City Link.

Prior to this, John Nguyen worked at Colliers International in Melbourne, Australia for two years as an Assistant Valuer. During this time, he valued a range of properties across the industrial, commercial, and retail sectors, with a particular focus on office buildings.

The John Nguyen Kinney Green appointment brings strong international experience across both property management and valuation. This enhances the firm’s ability to deliver high-quality management services across a range of property sectors.

His background in managing large-scale occupier portfolios, combined with valuation expertise, will support the continued development of the management services platform at Kinney Green.

We are delighted to welcome John Nguyen to the team. His experience will strengthen client service delivery and support the ongoing growth of the business.

This appointment reflects Kinney Green’s continued focus on attracting experienced professionals to support its long-term strategy.

At Kinney Green, John will contribute to the expansion of the management services offering and help deliver value to clients across a range of assets.

The addition of John Nguyen further strengthens the wider team and reinforces the firm’s commitment to high-quality service delivery in the property sector.