Complex Renewal Completed

Acting on behalf of a private landlord client, AS Retail have successfully concluded a complex lease renewal with Pizza Express at 39 High Street, East Grinstead.

The building is arranged as a ground floor restaurant with rear extension to provide additional seating, supplementary external seating area, self-contained upper parts and parking spaces to the rear.

As a team we have provided ongoing advice to our client since 2019 when were first instructed to assist them. As well as working through complex lease and valuation matters revolving around the age of the previous lease, the duration since certain tenant’s improvements were made and a lack of direct comparable evidence, we’ve also had to navigate both the tenant’s CVA and of course the Covid pandemic during the period of instruction.

We are delighted therefore that Pizza Express have been secured for a new 15 year lease on the whole building at a rental 15% higher than the previously passing figure.

Please contact us should you require any additional information on this instruction.