Acted for JLP on a lease assignment for a unit which had become surplus to requirement.
Achieved lease surrender & granting of new lease to a global sparkling wine maker.
Agency advice - John Lewis Partnership (JLP)
50,664
sq ft
Industrial Unit 4, Ashdown Business Park, Uckfield.
3.3
acres
with securely-fenced site.
Challenge
Vail Williams’ Gatwick agency team was appointed by John Lewis Partnership (JLP) to market a high specification industrial unit in East Sussex.
The regional distribution hub had become surplus to requirement. Our industrial agents were appointed to find a new occupier to reassign the lease to, which was completed successfully, securing a new tenant for a further 15 years.
How we helped
- Unit was a D&B for JLP built in 2016, with 21 loading doors, large servicing yard, office accommodation and 93 parking spaces.
- Worked with JLP to launch the unit to market and secure a new occupier.
- Achieved significant interest through a comprehensive marketing campaign.
- Negotiated surrender of the lease between JLP and landlord, LondonMetric plc.
- Negotiated terms of the new lease, resulting in the granting of a new lease to a global sparkling wine maker.
Result
- Secured significant interest in the premises through a comprehensive marketing campaign directed at active occupiers in the region.
- Successfully navigated what was a complex transaction.
- Ultimately, achieved what all parties wanted, enabling JLP to relinquish their liability through a lease reassignment.
- Expert agency advice secured a quality tenant for a further 15-years, negotiating an improved market rent of just under £10 psf with CPIs reviews.
- Enabled new occupier to satisfy their 50,000 sq ft requirement following a significant amount of time searching.
Get in touch
If you think you may need similar support to that described here, or you would simply want to have an informal chat with a member of our team to discuss your property needs, get in touch.
CrawleyBrighton
