Since starting my eponymous company specialising in advising and negotiating premiums principally for tenants in July 2000, the level of savings negotiated now exceed £88.05m.
The average saving across all major central London landlords averages 26.16% discount off all quoting premiums – well over a quarter off the starting price.
Go to the ‘Where we work’ section of my website to see the average saving negotiated on each major Central London landlord.
The level of saving off course depends on many different factors and it is not possible to generalise as each property is unique. Generally the shorter the lease, the less the amount possible to save as the marriage value share reduces although the lower the underlying freehold capital value negotiated, the better the result. Likewise for leases over 80 years where there is no marriage value payable, the saving is likely to be considerably less as the landlord’s interest is so long deferred.
The above said – a collective settlement reached this month on Grosvenor resulted in a negotiated discount of 58.79% off the landlords quoting premium where the leases ranged from over 100 years down to garage spaces on less than 5 years.