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Biddulph - Sale of leases to Sainsbury's
Sainsbury's wanted to develop a new supermarket in Biddulph, Staffordshire and hoped to start work in 2009-2010.
Part of the site included a parade of shops, with flats above, where I acting for two retailers - SW Cotton, Optician at 44/44a High Street, and Morning Fresh greengrocer at 46/46a High Street - in negotiations for surrender of their leases to Sainsbury's, subject to simultaneous leaseback for a few months until vacant possession was required.
For 44/44a I negotiated almost twice as much as Sainsbury's offered originally. For the lease of 46/46a, I negotiated almost three times as much.
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Part of the site included a parade of shops, with flats above, where I acting for two retailers - SW Cotton, Optician at 44/44a High Street, and Morning Fresh greengrocer at 46/46a High Street - in negotiations for surrender of their leases to Sainsbury's, subject to simultaneous leaseback for a few months until vacant possession was required.
For 44/44a I negotiated almost twice as much as Sainsbury's offered originally. For the lease of 46/46a, I negotiated almost three times as much.
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