Leasing a commercial property can often be a complex and time consuming process. MCP has extensive experience of coordinating and managing the letting process from agreeing Heads of Terms and instructing a solicitor through to lease completion and subsequent tenant occupation. We have acted on letting transactions with a cumulative value of over £50m.
Whether you are a landlord or a tenant our niche services include:
- Negotiate and agree detailed Heads of Terms.
- Advise on what legal contracts are likely to be required for a successful transaction Agreement for Lease, Licence for Alterations, Lease etc.
- Advise on the suitability of the subject premises and identification of any potential building constraints establishing available utility supplies, adequate floor to ceiling heights etc.
- Selection and appointment of a suitably qualified professional team and the coordination/management of input required production of fit-out drawings, submission of planning/licence applications etc.
- Agree and document a landlord scope of works prior to unit handover.
- Act as first point of contact on all legal matters and coordinate/provide responses from relevant parties as required.
- Establish realistic target dates for each part of the transaction and ensure parties meet these dates.
- If applicable, review and advise on service charge budgets and apportionment
Clients include State of Play Hospitality, for their brands Bounce and Hijingo, as well F1.
MCP are also retained as real estate consultant to Puttshack for their UK sites.
Appointed by F1 Arcade, MCP successfully managed the lettings transactions through to exchange of contracts. The unique F1 simulation venue has now opened at One New Change, St Paul’s, London. With Birmingham due to open at Paradise Birmingham in 2023.
Appointed by State of Play Hospitality, for their pioneering new social Bingo Concept ‘Hijingo’ MCP successfully managed the letting transaction through to exchange of contracts.
This complex transaction involved the careful coordination of numerous professional inputs to ensure the necessary gaming and premises licences were secured in parallel with agreeing and documenting the various legal contracts for a new 20 year lease.
MCP successfully negotiated a lease surrender with The Restaurant Group PLC and agreed a simultaneous letting to The New World Trading Company t/a The Botanist.
This transaction benefitted all parties as it enabled The Restaurant Group to dispose of a 13 year leasehold liability whilst providing the landlord with a fantastic new tenant on a 20 year lease, adding capital performance to the asset.