Monday, March 1, 2010

Arnotts pays €5m to surrender Jervis lease

From the Irish Times, a story of cutting losses and getting out of a lease.

Note they paid almost 2 years rental…up-front…to leave a unit in which there appears to be huge interest for a number of smaller retail units from top international traders, at a higher rent than Arnotts were paying!.

Poor negotiation, I would say.

If the demand is that high, why not sub-let?

Or at least do a better deal to escape from the lease.

Posted via email from quirkeproperty's posterous

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