Ministry of Sound, 103 Gaunt Street, London

Ministry of Sound, 103 Gaunt Street, London

Grant Mills Wood were instructed by the landlord, a private individual, in 2008 to act on his behalf to negotiate the lease renewal of the Ministry of Sound night club in Elephant and Castle.  

We were to establish the open market rent at the date of the lease renewal so analysed the rents of other night clubs on a rate per square foot basis.  This was complicated by a higher than usual proportion of office space, the historic landlord fit out of the Dance Box (a room in the club) which still had value, and the prospect that the Ministry of Sound might lose it’s licence in the future due to nearby residential developments.  

We therefore engaged in lengthy negotiations with Ministry of Sound’s Surveyor on the impact of the factors on the rental value and were finally able to achieve a good result with a 35% increase on the rent passing.

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