Retail – iLite: Birmingham
Key Successes: Better than quoted rent, Break included, Liabilities reduced
Appointed by luxury lighting retailer iLite to identify a suitable site for its new showroom, Harris Lamb’s Retail team acquired a prime unit in Birmingham’s prestigious Mailbox shopping centre. iLite are a Swarovski appointed retailer.
In securing Unit 16 for the business, Harris Lamb negotiated lease terms to provide commercial protection throughout the ten-year term.
Harris Lamb analysed rental evidence and advised on the correct rent to be paid in the location. Terms were negotiated that protected the tenant throughout the lease which included, breaks, dilapidation protection and limiting liabilities. The principle regard was to the whole lease costs and liabilities.
As the centre was in the process of being relaunched, the team negotiated a rental that reflected part occupancy of neighbouring units and reflected the lack of supporting trade until the units were fitted out and trading.
- RETAIL ACQUISITIONS
- SALES AND LETTINGS
- RATING APPEALS AND VOID RATES SCHEMES
- BUILDING SURVEYS
- LEASE RENEWALS AND RENT REVIEWS
- REFURBISHMENT PLANNING AND MAINTENANCE SUPERVISION