Delivering development opportunities – FHP negotiate to gain vacant possession for major redevelopment in north Birmingham

Retail News

Town centre redevelopment or repurposing is at the forefront of many stakeholders minds at the moment, but there are often many barriers to repurposing or redevelopment, not least gaining possession of the proposed development site.

FHP were tasked with speaking to a number of national retailers who held protected leases within a proposed development site.  Through detailed negotiation, we “regeared” all leases to incorporate rolling redevelopment break options with all occupiers in the proposed redevelopment area.

Doug Tweedie commented: “This was a satisfying result. Our developer client was keen to speak to occupiers and negotiate rather than go down the more protracted CPO route. All parties are happy with the outcome and the development, whichever route it takes can commence with a flexible timeframe providing a degree of certainty to the occupiers, and mitigating holding costs for the developer in the meantime”.