Acting on a portfolio of properties in the south coast, we were able to secure an established business tenant for a much sought after trading location in Drayton.
Following a flurry of enquiries for this shop in Havant Road, Drayton and offers from several parties, Wheeler and Lai negotiated with the business owners behind “Andre’s Food Bar” with terms agreeable to our landlord client for a term of over 10 years.
Our initial approach with Heidi, the owner was that she needed our rental advice and appraisal of the location, along with a portfolio of other sites. With our guidance on rental values, we commencing marketing the property on digital platforms as well as on social media, and there was a lot of interest in the site due in part because of its location, but also accessibility to Havant, the M275 Motorway Network and Portsmouth central and Cosham.
After reviewing a number of proposals for the shop unit, and reviewing the merits of each offer with our landlord client, we were able to focus on the proposal by Andres Food Bar in more depth and bring together the right deal.
The lease negotiation stage can be tricky and often means reaching a balance, or compromise in order to achieve a successful letting. We understand our clients needs and requirements, and try to marry them up with an incoming tenant and what they may be able to do or not do.
Through discussions and reaching agreement, we draw up the Heads of Terms for the proposed letting and solicitors are instructed. This process means liaising with all parties, but essentially ensuring that the solicitor has all the information to put together the lease.
Upon completion, and receiving confirmation by the solicitors, we were able to release the keys to the new tenants. This was a smooth transaction for both parties, and we are delighted that our client has an established and well loved business as their new tenant.
Andres Food Bar was opened earlier this year, so we are pleased to be able to share this good news and wish them all the best in their business.
Site at 256 Hvaant Road, Drayton, Portsmouth. PO6 1PA
