Well, this was an interesting transaction!
…..but it was immensely rewarding to see Flat Iron open their new Bristol site on 5th December, in time for the peak Christmas ‘run-in’.
Having just concluded rent review negotiations with the landlord, our client was poised to close their Four Wise Monkeys concept and refurbish the building, when Flat Iron made an approach. Many months of negotiation concluded in a tri-partite agreement for surrender of the existing lease, a new letting of the entire building to Flat Iron Limited, and a subsequent new sublease back to our client of the first and second floors, where they continue to trade as The Raven – The Raven Bristol | Cocktails | Tarot | Performers | Jazz – a sister bar to their famed Milk Thistle brand. Completion of all of this included very substantial renovation and roof works to the property.
Our involvement in this started with the initial rent review negotiation and some very delicate negotiation skills were required to secure the surrender, and subsequent new leases, whilst ensuring that all parties ended up in a beneficial position at completion.
Its great when a plan comes together, even in circumstances as complex as this.
If you require any further details on this transaction, or an opportunity to discuss your own property occupation or ownership, please do get in touch with us.
