Isle Of Wight

March 2018 – New Look propose CVA with rent reduction of 60%

March 2018 – JMC instructed to handle discussions with New Look – with 180 day window to end lease

May 2018 – JMC agree terms with The Works for new lease. – Agreement for Lease subject to surrender of New Look lease

July 2018 – Solicitors serve notice on New Look to vacate in accordance with CVA

October 2018 – The Works sign new 10 year lease rent with 5 year break at £37,500 p.a.

November 2018 – The Works fit out unit and are trading by December 2018 following full refurbishment of the store

June 2019 – Lease granted to the IOW Council for 10 years on rear car park at a rent of £7,225 p.a.

ClientPrivate Client Year2018LocationHigh St, RydeServicesLease