Rents Continue to Increase
Aitchison Raffety, GVA, Lambert Smith Hampton and Stiles Harold Williams have now been joined by Dacres Commercial in the collection and analysis of rent reviews through the Primary Care Premises Forum. The first appraisal of rental increases, released on this website in the spring of 2011, analysed completed three year rent reviews in 2009 and 2010. Over the last six months, the database has expanded with 86 transactions being analysed for 2009 and 89 for 2010. In addition, we have looked at 52 transactions in 2008 to help plot the direction and change in levels.
The Spring analysis showed an increase in the three years up to 2009 of 10.82%. The additional data now reduces this to 10.3% which shows an average of 3.34% per annum. This is to be expected as a lot of the additional data will be those late reviews which have been hardest to agree and inevitably show the lower figures.
The Spring analysis in the three years up to 2010 showed 10.4% but, like the above, the additional data has now reduced this to 9.23% or an average of 3.08% per annum.
Article taken from PCPF.