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Measure Twice, Cut Once - Accurately Assessing Size and Space for Retail Rent Reviews
Manage episode 483825466 series 3640106
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Measuring Up in Rent Reviews: Key Considerations for Retail Tenants
In this episode of 'That Retail Property Guy,' host Gary Marshall discusses crucial aspects of negotiating rent reviews from a retail tenant's perspective. Emphasising the importance of carefully measuring and assessing retail spaces according to RICS, GOAD, and practical guidelines, Gary explains how comparable evidence and good neighbour relationships can influence rent negotiations. The episode also covers the significance of location, the physical layout of properties, and using methodologies in the RICS code of measuring like GIA, NIA, and ITZA to determine rental values effectively. Listeners are encouraged to seek expertise from property professionals who specialise in tenant representation. Tune in for valuable insights and strategies to help retail tenants maximise their potential in rent negotiations.
00:00 Reminder of Retail Property Insights
00:19 Understanding Size and Space in Rent Reviews
00:51 The Importance of Comparable Evidence
01:43 Building Alliances with Neighbours
02:42 Analysing Rental Values
04:01 GOAD Plans
04:17 Measuring Usable Space Effectively
06.14 RICS Code of Measuring Practicing GIA and NIA
07:27 In Terms of Zone A (ITZA) Retail Space Valuation
10:40 Summarising Valuation Methodologies
12:22 Final Thoughts on Expert Advice
Related episodes:
Leases, Landlords, Location Location - Demystifying Rent Reviews for Retail Tenants
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