On behalf of Canada Life, HRH have let the above store, which is in excess of 6,000 sq ft sales, to 99p Stores on a new 10 year FRI lease at £225,000 pax, with an upward only rent review after 5 years and 3 months rent free.  The store is close to Argos and tesco and the property was formerly occupied by QS and Southern Electic.  Canada Life amalgamated three units to creat a large store offering accommodation on ground, first and second floor. 

On behalf of UK Estates Limited, through it's subsidiary Wilson Peck Properties, Harmer Ray Hoffbrand have pre-let the redevelopment of 200/201 High Street, Lincoln, to River Island.

They will be relocating ffrom their existing smaller premises to this new property which is located in the finest part of the High Street and is currently predominantly occupied by Nex plc.  The developer recently received planning permission to demolish the existing building and, whilst retaining some original features, will construct a classically attractive new retail unit offering approximately 13,500 sq ft over three floors.  It is anticipated building work will start this summer and possession to be handed over by mid 2013.  Harper Dennis Hobbs acted for River Island.

HRH have recently let a shop in Windsor High Street to the jeweller Kollage Ltd, trading as Silver Edge on a new 10 year FRI lease, at a commencing rent of £22,500 per annum, with an upwards only rent review after 5 years.

Acting on behalf of Supercuts, HRH have acquired a new store in the recently opened Trinity Walk Shopping Centre.

Acting on behalf of CUBE, HRH have let a prime High Street shop to Mint Velvet for a new 10 year lease at £58,000 per annum, with 6 months rent free.

Acting on behalf of a private client HRH have recently let the former Woolworths store in Hitchin to Poundland and Peacocks.

Lakeland opened a new store in Watford recently. By the end of this year they will have opened 8 new stores with a further 8 sought for 2012.

HRH have recently sold this Sainsbury's Local convenience store to a UK Pension Fund for a price well in excess of the asking terms.

Acting on behalf of a family trust, HRH have recently sold this mixed use retail and residential property in Muswell Hill to a Property Company for a price well in excess of the asking terms. 15 bids were received demonstrating the appetite of investors to acquire quality assets in affluent London suburbs with asset management angles. We have lots of disappointed parties if you have anything similar you may consider selling!?

Acting on behalf of a private client HRH have acquired the freehold interest in premises occupied by The Tote.

Acting on behalf of a Family Trust HRH have recently sold a modern mixed use block in the affluent Surrey commuter town of Cobham to a UK Pension Fund.

Acting on behalf of Amelwood, HRH have sold the freehold of this prime shop let for 10 years to Poundland to a Family Trust.

" As a surveyor I have been appointed either through the President or by agreement of the parties to act as Arbitrator under PACT where the issues involve matters of valuation. The length of the lease, the initial rent and the interim rent are the usual matters. In all cases I require an agreed form of lease to accompany the Consent Order where upon I am able to conduct the case as I would an Arbitrator dealing with a rent review. I invite the representatives to attend a preliminary meeting, provide written directions to suit their requirements and receive Reports and Replies which are exchanged before proceeding to make my Award on the issues before me. I may be required to make a Final Award that covers the issue of the costs. Once the parties have agreed to proceed to PACT they can select either a solicitor to hear cases dealing with legal issues or a surveyor with matters of valuation. As a surveyor who also acts for landlords and tenants as their Expert Witness I urge clients to keep matters out of court if at all possible.  Leases are becoming much shorter which will lead to more lease renewals than rent reviews. I do believe that the costs of referral to an Arbitrator or Expert can be less than those incurred in contesting matters through the court, even if settlement is reached on the steps at the very last minute."

 Chris Ray FRICS, FCIArb

As fully retained surveyors for Lakeland we have recently negotiated rent reviews in Perth, Witney, Harrogate and Worcester whilst achieving nil uplifts in Castlepoint Bournemouth, Chester, Brent Cross Retail Park and Bluewater. Negotiations are in hand in Windsor, Salisbury, Nottingham and Ipswich. We have agreed lease renewals in Eastbourne and York. We have also successfully achieved rate reductions on a number of their properties under the 2005 List resulting in a total refund in excess of £200,000 plus interest.  We are now preparing for the 2010 appeals.

Acting on behalf of a private investor HRH have recently undertaken the rent review of this prime retail unit in Wokingham. We have subsequently been instructed by another landlord to undertake the review of the nearby Santander.

Lease renewals are fraught with uncertainty. Tenants want to renew on short leases with break clauses and lower rents and rent free periods. Landlords are worried that if they do not keep their tenant happy then they will have an empty property that they cannot let and they will have to pick up the running costs with no income to pay off any loan.

Landlords - Have you considered the effect on your investment of creating a short term lease within the provisions of the Landlord & Tenant Act? You could be doing irreparable damage to your investment!

We have recently agreed lease renewals with the likes of Dixons that have protected the long term investment yet still provide the tenant with the flexibility that they were seeking. We are currently satisfying another major tenants' desire to keep its options open for the next two years yet again protecting the landlord. Both sides are content that the agreement reflects their specifiic requirements in this difficult retail market.

LANDLORDS - STOP, THINK AND CALL US

In August 2006 HRH acted on behalf of Royal London to acquire the freehold investment in probably the best located block in Liverpool for a figure over £24 million.  The site is at the junction of Church Street, Paradise Street, Lord Street and Whitechapel and occupied by 6 different tenants. All the leases are due to expire in September 2011 and HRH are advising RLAM on the development process to co-ordinate the obtaining of vacant possession, formulating and updating the development appraisal and co-ordinating the letting agents to conclude a letting.  An agreement for lease has been exchanged with the Amercian fashion brand, Forever 21.

HRH are advising the owners of the freehold interest of the above premises occupied by Next and a temporary trader on the redevelopment of the site.  The unit occupies the finest location in the heart of Lincoln.  The proposal is for a complete demolition of the premises (subject to planning) and the construction of a new store offering over 12,000 sq ft of prime retail space.  HRH are advising on the obtaining of vacant possession, development appraisals, and the securing of a tenant.  The unit is under offer to a major high street retailer.

Acting on behalf of the developer Alburn, HRH successfully negotiated a pre-let with Sainsbury which allowed the developer to commence building this mixed use, retail and residential development. We are now actively marketing the remaining retail unit.

We have been active recently in acquiring development opportunities throughout the country on behalf of Ganco Developments. We acquired a former petrol filling station in Nottingham on their behalf. Construction has started on site to create a mixed use development with a 4,500 sq ft retail unit at ground floor which has been let to Sainsbury’s Local with two floors of flats over. In Bexleyheath we have acquired an old car dealership which now has consent for a redevelopment with a retail store at ground floor again for Sainsbury’s and two flats over. Construction has just started on site. In Aldershot we have acquired a former pub and are working up planning for a retail and residential mixed use scheme. On Wandsworth Bridge Road we also advised on the acquisition of a site from the Local Authority for development of a Sainsbury’s Local store with residential units over.

Acting on behalf of the developer Alburn, HRH successfully negotiated a pre-let to Sainsburys which allowed this mixed use retail and residential development to proceed. We are now marketing the remaining retail space.

Acting on behalf of a private client, HRH have recently re-geared the lease with Lloyds TSB.

Acting on behalf of Clarks, HRH have negotiated reversionary lease's with the landlord's of shops in Scarborough and Crewe.

Acting on behalf of CBREI, HRH have agreed a reversionary lease with Holland & Barrett.

Acting on behalf of Nando's we have successfully agreed rent reviews at nil uplift in Balham, Islington and Sutton.

Acting on behalf of Tragus, HRH advised on the lease re-gear of the Bella Italia restauant in Norwich.

Acting on behalf of Tragus, HRH have recently agreed a new reversionary lease with the landlord on this prime Central London restaurant premises in Bayswater in return for a rent free period.

HRH are delighted to have been instructed again to undertake the next round of rent reviews in this popular leisure scheme in the affluent Surrey town of Kingston Upon Thames on behalf of clients of Scottish Widows. Tenant's include Carluccio's, Browns, Slug and Lettuce and Byrons.