Sainsburys, Ashford, Kent
Sainsburys, Ashford, Kent
Grant Mills Wood acted on behalf of a major food retailer in the acquisition of an adjacent retail park to facilitate the extension of an existing food store.
The purchaser exchanged contracts with the vendor to acquire the units, subject to securing an agreement with the tenants to secure vacant possession of units. Any negotiations with the tenants was conditional on planning.
Planning Permission to extend the store was granted and the store is now open, comprising over 100,000 sq ft GIA.
We entered lengthy negotiations with the property Fund vendor finally agreeing terms to purchase unconditionally. We were then instructed to agree surrender terms with the existing tenants and enter into discussions with a neighbouring retail park regarding proposed access improvements. All of these negotiations were successfully completed prior to the grant of planning permission for the extended store.
The store is now open and trading with a near sales area of circa 100,000 sq ft.