GCW are retained by Boots UK Limited to advise on rent review and lease renewal negotiations within the south-east. In implementing a strategy GCW have gone beyond the parameters of normal rent review and lease renewal negotiations to secure greater flexibility for Boots. This has enabled them to facilitate for the planning of the store’s future.
A recent example has been Boots in the St. Georges Centre in Gravesend where GCW were able to use the rent review negotiations as leverage to widen the alienation provisions in the lease. GCW have taken the time to understand the retailers needs and their trading strategies going forward.
In this particular example the result GCW were able to achieve allowed Boots to include an opticians service within the branch allowing them to close the existing the Boots Optician store nearby at lease expiry. This result reduced their rental liability for the town whilst providing continuity of service to the customer.
GCW have achieved similar results elsewhere for Boots including allowing them to open medical centres in-store to further the services they offer to their customers allowing the retailer to offer a comprehensive service.
Other examples of how GCW have reduced Boots rental liabilities would include negotiating the surrender of an unoccupied former sub-let section of a store that the landlord was insisting must be included within the demise. The professional and agency teams worked together to find a suitable tenant to acquire this space on a new lease from the landlord mitigating Boots rental and repairing liabilities.