GCW has advised the landlord Pearl Crown on the parade for some years where the tenants include Iceland, Specsavers, Barclays Bank and some local retailers. This particular instruction was to deal with the possible renewal of a lease expiring outside the provisions of the Landlord & Tenant Act 1954 at a passing rent of £30,000 pa. The tenant at the time was local Asian grocer, Fan Win.
The potential market demand was investigated by GCW who identified an opportunity to significantly increase the rent and to create valuable new rental evidence for the benefit of the rest of the parade. It identified a number of potential occupiers for the 8,000 sq ft unit arranged over two levels and subsequently agreed a new 10 year lease with a tenant break after six years at £75,000 pa with Poundland.