Sherrards acts for a number of retailers in their acquisitions programmes. These include nationally recognised shops, restaurants, coffee houses and bars. Whilst the nature of the businesses we act for varies, the ultimate goal of each of our retail clients is to secure occupation of premises as quickly as possible.
In order to achieve this, Sherrards offer support from an early stage in the transaction. We pride ourselves on our responsiveness and drive.
The types of premises commonly acquired are:
- Shopping centre units
Sherrards has secured retail space for clients within a number of well-established shopping centres. We go out of our way to develop strong relationships with the representatives of the landlord and have an in-depth understanding of the practical application of transactional documents and how the centres are managed. This enables Sherrards to deliver both the legal services needed to secure occupation, and, also pragmatic know-how. It also means that Sherrards is well acquainted with complex service charge arrangements and concepts such as turnover rent.
- High street units
A considerable number of our clients take retail space in desirable high street locations. Such acquisitions bring their own challenges, for example, the need to obtain planning permission for change of use and/or initial tenant works to the premises. This often necessitates the use of a conditional agreement for lease, which requires careful drafting and negotiation – skills which are a prerequisite for each member of the property team at Sherrards. Often specific rights need to be procured from the landlord to enable the premises to be fully operational by the tenant. Identifying and then addressing these specific business needs is a key feature of the service provided by Sherrards.