A number of our clients acquire premises with the intention that they will be occupied and managed by a franchisee. In these circumstances, it is common for our client to secure a head lease of premises and then immediately underlet to a franchisee. It is important, therefore, to ensure that the head lease documentation permits our client to achieve its objectives.
It may also be necessary to procure the consent of our client’s landlord (and of any other party with a superior reversionary interest) to the proposed underletting to the franchisee. The increase in the number of parties to a transaction inevitably adds pressure to the timeline and Sherrards prides itself in taking an active management role in order to keep all parties on track and focused on the ultimate objective.