Bracknell - secured significant rent free period upon lease renewal for client's The Body Shop International
Our Director, Martin Black, handled this instruction received from The Body Shop International Plc, in relation to the lease renewal on a unit within Princess Square, a covered mall within Bracknell.
- Retail unit within covered scheme where there is ongoing speculation regarding landlord’s redevelopment proposals in the town.
- The lease came to an end on 25th December 2009.
- Advised client to issue a Section 26 notice based on a 5 year lease with an unconditional rolling tenant only break option with effect from June 2011 on 6 months notice.
- Subsequently negotiations were entered into with the landlord’s agent.
Terms were agreed on the basis of a new 5 year lease commencing 26th December 2009 at a reduced rental level, with our client’s The Body Shop International Plc receiving a rent free period of 12 months.
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