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58 property Opticians with eye on a big deal


There are sometimes more twists and turns in commercial property than you might suppose. The latest deal closed by Brethertons Solicitors was for a management team expanding their franchise of high-street opticians, writes Brethertons LLP


The structure of the deal was slightly unconventional and needed a fair amount of background work to get it right. Of course, this work was time-consuming and combined with some intricate funding arrangements, the Brethertons team was under pressure to complete the deal on time.


“The clients came to us for two reasons,” explains Angela Guess, commercial property solicitor based at Brethertons’ Bicester office in Oxfordshire. “Firstly, our broad range of commercial services meant that we could provide legal advice for both the property deal and the franchise purchases. Secondly, we were aware that the client wanted to complete the deal quickly and efficiently and we wanted to live up to that good reputation that


had brought them to us in the first place.”


The purchasers were already franchisees for one opticians but had engaged Brethertons to transfer two more leases for two further properties, both with different landlords. In addition, they were taking over a brand new lease of a third property, bringing their total commercial property portfolio to four.


With differing landlords came differing issues. For example, one landlord was demanding some non-commercial terms which Guess quickly negotiated out of the agreement, knowing the risk this would pose for her clients. The third landlord, who had in principle agreed the grant of a new lease, also required a skilful approach from the Brethertons team.


Guess comments: “As a lawyer for commercial property I need to not only negotiate for my client's current business position, but also protect their future business. One particular landlord tried to jeopardise my clients’ security of tenure under the lease which put their potential marketability and future value of their business at risk if they ever wanted to sell. My negotiations ensured this didn’t happen.”


Happily, the deals all went through within the right timescales and despite some considerable obstacles thrown in from the franchising company. The expansion of the client's high-street opticians business is complete and can enjoy many successful, protected years of trading.


Angela Guess


To discuss your commercial legal needs contact Angela Guess, details below.


Details: Angela Guess 01869-255919 07972-502477 angelaguess@brethertons.co.uk brethertons.co.uk


Property Insights from the capital of the Thames Valley


To be kept informed of the latest news and developments in Reading and the surrounding area, please contact Mike.Shearn@haslams.net to receive your free copy of ‘Insight’, the quarterly report from Haslams Estate Agents.


www.haslams.net newhomes@haslams.net


businessmag.co.uk Property Insights Ad 05.16.indd 1 0118 960 1010 Haslams Estate Agents Ltd, 159 Friar Street, Reading, Berkshire, RG1 1HE THE BUSINESS MAGAZINE – THAMES VALLEY – JUNE 2016 10/05/2016 08:19


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