Landlord & Tenant Advice
DMP were instructed by an asset to value and property management company to assist with a new letting at The Great Hall Arcade, Tunbridge Wells.
The Great Hall Arcade is an imposing late 19th Century landmark building opposite Tunbridge Wells main line station. The mixed use building comprises of retail units to lower ground and ground floor levels and office accommodation to the upper parts.
Following the relocation of an existing retail tenant the client wished to negotiate with a national food retailer a new lease for an extended premise comprising of a 5,000 sq.ft retail space. They also sought to maximise the lettable value.
The building project also required the relocation of an existing tenant into an adjoining unit. DMP prepared a detailed specification and procured this element of works to enable the client to agree costs with the tenant for relocating to a newly fitted out unit.
The opening up of the ground floor to maximise the lettable space to provide the shell finish for the tenant’s subsequent fit-out was also procured by DMP to again enable the client to agreed terms with the proposed tenant.
The DMP Solution
DMP prepared a Specialist Construction Report to be included in the lease documentation for the proposed tenant to ensure guidelines and site rules were followed during the shop fit contract. The document was developed taking on board the comments from the Client and adjoining tenants, in particular the BBC who operate their local ‘Kent BBC Radio’ and ‘BBC South East Today’ studios from the building.
DMP assisted in packaging up the agreed scope of works and the overall scheme to enable the client to lease the space to the new tenant who in turn took on the landlord’s works to create the new demise and fitted out for their own use.