A religious charity was facing funding issues during the height of the Covid-19 pandemic. This meant they wanted to exit their lease and take advantage of their landlord wishing to develop the site.
We advised on the options available to the charity, including their ability to push for the landlord to pay them a premium to leave (regardless of their need to leave anyway).
As a result, a £50,000 premium was agreed, payable upon the sale of the freehold by the landlord. We provided further advise to ensure payment was secured and the surrender dealt with and finalised in a short period. This payment will be a huge help to the charity financially, and we have now been instructed to advise on a number of their other sites.