IT’S WHAT WE KNOW
This high street block in prime pitch Manchester comprised two unloved shops let to O2 and Holland & Barrett, both with imminent lease expiries The Metis Retail team worked closely with a private client to transform the block into a new flagship store for EE.
Both existing tenants were seeking relatively short term renewals on their existing space. Metis was able to negotiate vacant possession from Holland & Barrett, while agreeing new terms with 02.
These would see the company taking a fresh 10-year lease of the entire ground floor and basement, with the first floor removed to create a prominent double height store.
Eventually, circumstances dictated that an alternative tenant was required. Metis was able to secure EE on significantly improved terms with a 10-year lease including a rent-free period.
The redevelopment works were completed in December 2015 and EE took occupation of their new store immediately.