for those who are genuinely interesting in seeing how this plays out
The market review has concluded.
The letter was sent off.
The difference between what was invoiced and what they paid was ripped out of their Bond.
After a short while, they realised they had done the wrong thing and topped the Bond monies back to what they should be.
They eventually came back with a rental rate offer, countering my 220% proposed rental rise.
Their offer equated to a 204% rise. I was surprised it was that high.
We split the difference and agreed on a rise of 212%.
That's it for 2 years until we do it all again.
The capital value of the property should jump accordingly, but that is yet to be determined. If it does, that's great. If it doesn't, the care factor is pretty low. I'll let the experts on here who don't own any commercial property speculate on that. I can now confidently say the sky is not falling in. Great companies still have a huge demand to accomodate their staff in tip top office environments.
The rent rise achieved for this one property is multiples of what I can earn in my profession, so I am leaving the profession to become a full-time commercial / industrial Landlord.
As topcropper hinted at, he wouldn't have continued with the rubbish that has been sprinkled throughout this thread. Thanks to JoannaK and GeoffW for cleaning up the worst of it.
I tried to make it educational, but having any relevant details thrown back in my face and used against me by a twisted few doesn't engender confidence to reveal the real nitty-gritty. That's where the real learning is for these things, and once again I'm unable to share.
Thanks to those who PM'd and asked decent questions.
Time for a holiday.