As The Tenant’s Advantage, Cresa UK are delighted to have become the strategic property partners and Real Estate advisors for the West End (Chinatown) Tenants Association.
The association was the brainchild of Jon Man, a restaurant owner for over 30 years within London’s Chinatown. Jon had a genuine fear for the continuation of the unique and exclusively Chinese feel of the China Town area, which is situated in London’s Theatreland areas that border Soho & Covent Garden.
The association was formed to provide a platform for all the independent retail & leisure occupiers in the West End of London. With the joint efforts of all the members, there has been an initiative to create a clearer understanding of the Real Estate issues and resolutions that are associated with each shop, restaurant and office.
In order to resolve the general commercial property issues on the estate, the Association set out to find one firm that could solely represent all the tenants on their future rent review, lease renewal, disposal and acquisition requirements. They were introduced to Cresa UK via their legal partners Joelson Wilson & following a detailed tender process, it soon became clear that the non-conflicted tenant only, real estate platform that DeVono Cresa provide, was the ideal partner in this drive for change.
Now 6 months into this unique opportunity, there have been multiple “key” successes that have led to agreements with the relevant and multiple Landlords, which in time, will benefit all of the occupiers.
Cresa UK are now able to provide the platform for commercial property occupiers to gain the inside knowledge that they would require, to achieve real success with the properties they lease across all of the commercial use classes.
Cresa UK and the Association hope that by gaining these successes, other tenants in the West End will join the Association, which will strengthen every local businesses’ real estate capability.
There is now help to avoid these huge rental increases as demand for retail, restaurant & office space in London escalates.
To learn more about how your business can benefit from joining the association, feel free to contact Cresa UK to learn more: +44 207 096 991