Our client’s shop at 386 Bowes Road, Arnos Grove had been occupied by a specialist chair centre for 50 years. The well-earned retirement of the leaseholder led to a focussed marketing campaign for re-letting.
The shop was re-let to a British franchise of a successful Spanish discount supermarket chain. While the franchise expanded rapidly, structural changes, led to the closure of the business and liquidators disclaimed the lease.
These circumstances are all part of the turbulent High Street retail market that Day and Bell embrace every day. While we had lost a tenant, we received a newly refurbished and fully fitted convenience store. A finance company ultimately withdrew their claim on the fridges, freezers and other fittings; leaving us free to commence marketing to another convenience or food operator.
We recently completed the lease with Sedaakis Limited – an established German wholesale delicatessen business in Nuremberg, Germany. The team at Sedaakis have clear plans to roll out their retail brand in the UK and we’re delighted to play a part in their development.
Sedaakis are rebranding and completing alterations and we hope to see a tasty array of deli products in November 2019. Sedaakis Prducts
The food and leisure sector continues to develop, with the expansion of home delivery and resurgence of independent restaurants, at the expense of the established chains.
Our client’s property in Pinner had been a Spanish Restaurant for many years. It was then re-let as a Pizzeria, which changed hands and ultimately failed. Following an extensive marketing campaign, we successfully negotiated terms with Imlee Tree and agreed a new 15 year lease with a small rental uplift.
Imlee Tree are completing extensive fitting–out of the premises and we look forward to returning to another vibrant restaurant in our Asset Management portfolio. Call in to see them at 66-68 Pinner Green.
Day and Bell fully recognise that the current economic climate is difficult, especially for retail tenants who face continued pressures due to Brexit uncertainty, online competition and increasing overheads including business rates and minimum wage increases.

We do act for many landlords and the majority take a pragmatic long term view, preferring to retain tenants and support their businesses rather than push for maximum rents at rent reviews and lease renewals. Our team also has a great deal of experience in acting for tenants and helping to keep rent increases to a minimum, Andrew Cooper having worked in-house at First Quench Retailing and Sally Salon Services as well as for clients such as William Hill. We offer very competitive fees so please contact Andrew to discuss your rent review or lease renewal.
As Asset Managers of a large suburban high street shop, we recently negotiated with outgoing occupiers and Toolstation as the new tenant, maintaining continuity of income and a £10,000 per annum uplift in rent.
Rigorous care and attention was needed to steer the parties through the process. A changing retail market and potential empty rates liability of almost £32,000 per annum made this high stakes, but we rose to the challenge with:-
  • Abortive new lease negotiations with the previous tenant.
  • Dilapidations settlement of £70,000, plus costs.
  • Enforcement of rental liability, until the new lease was signed.
  • Abortive negotiations with another national bulk good retailer.
  • Prompt negotiation of new 10 year lease with Toolstation at £70,000 per annum.
There were numerous stakeholders in the process. Frank and pragmatic co-operation achieved some great results for our client, a vibrant new tenant and satisfaction for the outgoing occupier.