Another of Guernsey’s most prominent High Street stores will remain open thanks to a deal facilitated by leading offshore law firm, Mourant.
Associate Laura Bougourd, supported by the Mourant Guernsey Commercial Real Estate team, worked on the deal to enable Accessorize to continue trading from 48 High Street, St Peter Port, Guernsey.
Laura Bougourd said she was delighted to have helped the property owners and the retailer come to an agreement which satisfied both parties. This was particularly pleasing as the deal was completed following the second of two island lockdowns which saw all non-essential retailers forced to close for a number of weeks.
“We worked hard to negotiate a new lease for the Accessorize store in St Peter Port, which will benefit our wider town centre and island community. This deal follows a similar agreement negotiated on behalf of Monsoon which occupies premises further down the High Street.
“By using the existing form of lease, and following the negotiations conducted on behalf of Monsoon, we were able to successfully agree aspects of the lease to ensure that the store could continue trading from its familiar premises. The new lease also includes a turnover rent which is still relatively new for the Guernsey high street.”
Guernsey Managing Partner, John Lewis said Laura’s close working relationship with the tenant enabled a successful resolution despite the additional pressure of a second island lockdown.
“Accessorize and Monsoon are both prominent and busy stores on the Guernsey high street and we are delighted to have helped facilitate their continued trading following what has been an extremely difficult time for the retail sector.
“Laura Bougourd is very experienced and added value to the agreement by utilising her knowledge of turnover rents in completing the lease negotiations, allowing Accessorize to re-open their store following brief closures during the COVID lockdowns.”