Surrender & Grant of New Lease

We acted for a large pension fund who own mixed use premises in central London. The premises had been vacated by a national brand, in breach of their lease and a new tenant had been found. There were ongoing negotiations for a new telecommunications licence which was only going to complete after the new lease was granted. We were able to obtain agreement from the incoming tenant to not unreasonably withhold consent to future telecommunication licences, and to secure for our client a simultaneous surrender of the old lease with legal fees paid by the outgoing tenant and the grant of the new lease.