GCW advised the gym operator to go to arbitration following the landlord’s offer of a £120,000 pa rent up from £60,000 pa. A rent of £97,125 pa was subsequently set by an Independent Expert. The result has saved energie Group close to £23,000 per annum.
The gym market is very competitive with high rents being paid and GCW believes that some landlords are demanding overly high rents. GCW’s professional team used its extensive knowledge of the gym market to argue the case for an appropriate rent level for the 6,400 sq ft gym.
GCW has advised the energie Group on its gym businesses since 2014 as part of its work across the Alternative Sectors market.
GCW director Clive Gillingwater has now been appointed to the RICS arbitration panel on gyms.