Commercial property OMV or index?

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    Commercial property OMV or index?

    Hi,
    I am a director of an SME that has been running now for 3.5 years. We are coming to the end of the 4-year lease for our commercial property and are about to enter into a new lease agreement. I strongly suspect (but don't know) that the OMV for the property would have dropped in the last 4 years, so we are hoping to negotiate a rent reduction. I would ideally like to get some data on commercial property OMV over the last 4 years - can anyone point me towards any kind of data or perhaps know of a price "index"?
    Thanks in advance, John.

    #2
    Open market value is individual to the circumstances of the specific building, use, location, configuration etc. Thus there is no hard and fast rate which you need to apply. Previous rental transactional analysis will give an indication for similar propert in similar locations but ultimately may not come up with the right answer.

    I would recommend instructing a decent surveyor to act on your behalf at the lease renewal.
    [I]The opinions I give are simply my opinions and interpretations of what I have learnt, in numerous years as a property professional, I would not rely upon them without consulting with a paid advisor and providing them with all the relevant facts[I]

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