Like all other power assets, electricity substations require agreements to be in place between the network operators and private landowners whose property the asset is situated on. The difference being substations are governed by the Landlord & Tenant Act 1954 and command commercial leases rather than Wayleaves or Easements. Historically the payments agreed under these leases are well below market rent.
Thomson Broadbent have expertise in negotiating new agreements at the point of renewal, working with our clients to achieve outcomes which best suit their requirements including annual rents, capitalised rents paid in a lump sum, or the sale of the land to the utility company. Not only do we negotiate the monetary figure, but also the terms of any agreements such as length and rent