The main operators have split into two groups – MBNL (EE and Three) and CTIL (Vodafone and O2) – and earlier this year, BT bought EE, raising complications on some sites where BT held their own licence as a separate site sharer.

Amid the turmoil of network consolidation and joint ventures, the once ‘safe’ leases with Airwave, which currently manages the Emergency Services Network (ESN), also face uncertainty. The government has awarded the new ESN contract to EE, which is acquiring new sites for this network. The phasing out of the Airwave sites will run until 2020, but it is not yet known if they will be used for alternative purposes.

In May, the government announced reforms to the Electronic Communications Code following operators’ claims that they are unable to roll out networks because landlords are – allegedly – holding them to ransom. The key issues for landowners are: that operators will have the right to assign, upgrade and share sites irrespective of lease terms, coupled with unlimited access; for the rental valuation to ignore the benefit of such rights; and an element of retrospectiveness so existing leases will not be exempt from the code.

The operators would also have landlords believe that the market is in relative freefall. However, our latest Telecoms Survey – available at struttandparker.com/telecoms2016 – shows further year-on-year rental growth. Therefore, landlords should seek specialist advice before beginning telecoms negotiations.