LANDLORD ADVISORY ON REPOSITIONING OF LUXURY TROPHY RETAIL ASSET– TERMINATION OF EXISTING LEASE, TEMPORARY LEASE DURING PROJECT DEVELOPMENT PHASE AND FORWARD DEAL LONG TERM LEASE WITH LUXURY BRAND
We successfully advised landlord family on the termination of the existing La Perla lease – we brokered the termination agreement, putting an end to a 25 year tenancy during the pandemic crises to the benefits of tenant as well as landlord: we advised landlord on different scenarios to restructure and optimize the layout of the retail areas by bringing in our local team of highly experienced architects. We eased the financial burden of redeveloping this trophy asset by procuring a temporary lease with luxury sneaker brand P448 – our long term relation to the brand’s owner enabled us to securing a swift transition.
After having obtained a new building permit negotiations with luxury brands required further adjustments to existing building permit in order to optimize the retail layout. Finally a forward deal for a long term lease with the Hong Kong owned Luxury Accessory Malletier brand AU DEPART was procured in February 2023 for an opening before the Olympic Summer Games in Paris, the world’s capital of fashion.
We are proud to call this project probably our most prestigious and outstanding achievement in the past decade for our precious private landlord client in the most important luxury retail destination of the world.