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Background
STA Travel are an internationally respected specialist
in the travel sector for students and young people.
STA have over 65 university and high street branches
throughout the UK and a total of over 400 worldwide
As with all retailers, location is crucial to a specialist
travel retail operation, with fierce competition for
sites to cater for the restricted markets.
The major downturn in travel spend had placed a major
competitor in a prime Central London location out
of business. STA saw an opportunity, and Enable
were therefore asked to immediately undertake the
property due diligence to highlight the important
issues of a possible acquisition of their surrendered
space.
What we did
We immediately opened negotiations with the landlord
to position our interest and to assess the cost and
lease structure implications of taking the space.
Working with STA's lawyers we were able to secure
first place position in negotiation. STA did not want
the full space left vacant, so we worked with the
landlord to draw up a re-configured space options
whilst surrendering back the unnecessary space as
part of the heads of terms agreement.
Results
Through fast action, effective property due diligence
and negotiation we were able to secure excellent lease
terms for STA and provided the basis for them to secure
a primary real estate location ahead of all competition.
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