104/106 High Street, Sevenoaks

By: Cradick Retail  04/03/2011
Keywords: property consultants, Retail Property Market


Cradick Retail was instructed by Edinburgh Woollen Mill in mid 2010 to advise them in connection with Arbitration proceedings on their Sevenoaks store.

The November 2008 review was subject to an acrimonious dispute which had been referred to Arbitration by the landlord. The tenant had received a "Calderbank offer" from the landlord and needed urgent advice in view of a potentially expensive Arbitration.

After reviewing the legal documentation and undertaking a detailed inspection of the premises and evidence Cradick Retail reported to EWM with a recommendation to reject the landlord’s offer, and for the tenant to submit their own costs offer. This was rejected by the landlord and on expiry of the offer we advised the client to proceed with the Arbitration.

A detailed Statement of Case was submitted to the Arbitrator by way of Written Reports and Replies (a rebuttal of the landlord’s case). Whilst further and lower offers to settle were received from the landlord our recommendation was to reject these and request the Arbitrator issue an Award on Rent.

On the strength of our Submissions the Arbitrator determined a nil increase which resulted in substantial cost savings from the landlord’s best offer. After further negotiation the landlord agreed to meet all the costs of the Arbitration following the successful costs offer submitted on behalf of the tenant.

Keywords: property consultants, Retail Property Market

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