The Thomas Partnership: Rent Reviews
The Thomas Partnership was established in 1990 and only acts for landowners and only in relation to Outdoor media. Open market site tenders are undertaken on a weekly basis, private treaty negotiations on a daily basis and, in addition, an extensive national database is maintained for immediate access.
Imagine the scenario. A landowner or his agent is attempting to negotiate a rent review with a hoarding contractor. The landowner and agent have perhaps had first-hand experience of Outdoor media but only on a few occasions, intermittently over a number of years, and little if any genuine comparable evidence. The contractor, on the other hand has possibly 10,000 panels held with thousands of landowners the majority of which will have been negotiated directly on advantageous terms. It is not inconceivable that they can prove evidence at a fraction of the true open market value of the site. What does the landowner/agent do?
Outdoor media is quite distinct from other forms of ‘real’ property and, in particular, access to relevant comparable evidence when negotiating a rent review can be difficult if not impossible to access.