Project summary
- Cadent leased an area of open storage within Bury St Edmunds but the agreement was due to expire on 30th September 2019
- Cadent needed to operate beyond this date to keep plant, tools and equipment stored locally
- There was no prospect of a lease extension as the site was to be sold for the construction of a new supermarket
- Fisher German’s (FG) role was to acquire a new site. This involved obtaining a brief, drawing up a shortlist to arrive at a preferred site and then negotiate the acquisition.
Solution
- FG found a suitable replacement site on an industrial Estate on the outskirts of Bury St Edmunds
- FG negotiated a 5-year lease to acquire the light industrial warehouse and collaborated with Cadent’s external solicitors to complete the lease agreement
- FG liaised with Cadent’s projects team to fit out the space to meet the site occupier’s requirements and provide a much higher standard of accommodation than the former site
Benefits
- FG was able to find and compare a number of sites to ensure best value was gained for the client, ensuring the lease was granted in the timescales required and fundamentals of the site were of a higher standard than before
- Knowledge of the Landlord and Tenant Act 1954 enabled FG to collaborate with the legal team to ensure a timely signing of contracts
