Seamless transaction
February 2009
In a rare example of co-operation between a landlord, a consultant surveyors and a tenant, specialist women’s wear retailer Rococo has taken its expanding business to larger premises and kept its costs to an absolute minimum.
When booming business forced Rococo to look for new, larger premises, the owners turned to consultant surveyors, Januarys for help – mainly because they were locked into an existing lease on their Burleigh Street shop until July 09 and were concerned that they would be paying rent on the new premises plus rent on the vacant shop.
Januarys opened negotiations with the landlords, Turnstone (Cambridge) and discovered that they had ideal premises at Langford Arch in Sawston. As a goodwill gesture, Turnstone agreed to cover the rent on the Burleigh Street shop until new tenants could be found, if Rococo took the Langford Arch premises.
Rococo agreed to this arrangement and moved to Sawston. In the meantime Januarys set to work finding new tenants for the Burleigh Street shop. Within a short time they had found replacement tenants, Tailoring All Alts and negotiated a new 10 year lease.
Commenting, Nick Muncey from Januarys said: “This was a near perfect arrangement. Thanks to the willingness to be flexible on the part of Turnstone, we were able to stitch together a seamless deal that worked well for all parties.”