It’s been an exciting 6 months for BPE’s Commercial Property Team

BPE’s Commercial Property Team have been reflecting on the exciting work they have undertaken during the first half of 2023. Here are some of their work highlights of the year to date:

• Warner Retail’s Cleevelands Centre Development, Bishops Cleeve

The Team at BPE celebrated the completion of longstanding client Warner's Retail's new bespoke development. The state-of-the-art retail centre comprises a supermarket, five retail units, a gym, five office suites and a fast electric vehicle charging station, and is in a prominent location in the growing Bishops Cleeve catchment adjacent to the new medical centre just off the A435 Evesham Road.

Having acted on the site acquisition in 2020, Commercial Property Partner, Jo Bewley, further advised Warners on the pre-lets of the units to national tenants including Co-op and Dominos Pizza. Jo also advised Warners on the financing of the site to Handelsbanken.

• Acquisition of Bay Tree Court, Cheltenham, for Lillian Faithfull Care

The Team advised well-known local charity Lillian Faithfull Care on their recent acquisition of Bay Tree Court, a spacious purpose-built 59 bed home together with independent living units, tucked away on Prestbury High Street in Cheltenham. The acquisition brings the number of homes in Lillian Faithfull Care’s portfolio to six, in addition to its day centres, independent living units and respite care also offered.

Commercial Property Partner, Jo Bewley, and Corporate Partner, Adam Kean together with Senior Associate Angharad Doyle, led the teams in advising the long-standing client on all aspects of the acquisition including the property, business and employment aspects. This is the fourth acquisition we have assisted with, in addition the Charity’s shop in Tewkesbury.

• First UK Restaurant for Sef Steakhouse at The Quadrangle

The Team were delighted to complete a Lease for Sef Steakhouse’s first restaurant in the UK at The Quadrangle in Cheltenham. The Quadrangle, a 1970s landmark, has been recently re-designed and re-furbished to create contemporary commercial space. It is now a vibrant work and social space, with four storeys of premium office space and a ground floor boasting exceptional retail and café venues, in a prime location in Cheltenham.

Sef Steakhouse has created a unique concept combining an innovative menu with impeccable service and great fun. The grill-based dishes at Şef derive from authentic Turkish creations, fused with contemporary cooking methods and new ingredients.

Douglas Armstrong, Partner, advised Sef Steakhouse on its new Lease as well as the initial Agreement for Lease (dealing with planning permission and Landlord and Tenant Works). Arc Retail Property Consultants acted as agent for Sef Steakhouse.

• Aqua Construction Development at Gloucester King’s Quarter Development

The Team, led by Partner Paul Engelbrecht, have advised building company Aqua Construction in relation to its purchase of land for 25 affordable housing units at the Kings Quarter development in Gloucester city centre to be delivered to Gloucester City Homes. The Kings Quarter is Gloucester's most recent multi-million pound development focus and this latest project will play a key part in the regeneration of Gloucester city centre.

Aqua Construction have recently celebrated 25 years in business and this project represents the latest in its delivery of new homes to housing association clients. Construction at the site has already begun and Aqua Construction are delighted to be involved in such a worthy project with Gloucester City Homes.

• Conditional Sale of Greenway Nurseries to Burrington Estates

The Team, led by partner Paul Englebrecht, have advised the Owners of Greenway Nurseries on a conditional sale of the Nursery along, Shurdington Road in Cheltenham to Burrington Estates, a dynamic and growing property developer. The deal is conditional on planning permission being obtained.

Burrington Estates recently won a coveted Bronze award in the ‘Best Small Housebuilder’ category in the 2022 WhatHouse? Awards, and in April of this year also acquired land at Stratton in Cornwall with planning permission for 30 new homes.

• Acquisition of Country Pub Hotel for Pete Creed and Tom Noest

The Team, led by Associate Natalie Betteridge, advised Pete Creed and Tom Noest in relation to their latest venture – a 10 year Lease of The Sherborne Arms in Northleach, from the UK’s largest pub company, Stonegate Group.

The Sherborne Arms is a quintessential Cotswold village pub dating back to the 1700's, situated on the historic market square of the market town of Northleach. Pete and Tom are hoping to open the doors to The Sherborne Arms in May following a refurbishment.

Pete and Tom have already experienced huge success in other similar ventures, including The Bell Inn at Langford and The Lamb Inn at Shipton-Under-Wychwood. Their pub hotels offer a modern country pub feel, showcasing the pairs' love for a hearty British menu with the addition of wood fired dishes, an extensive wine and beer list, and all with a strong focus on great hospitality and ambience. Their nose-to-tail cooking celebrating classic British food, offal & game has received rave reviews from Tom Parker Bowles (writing for The Mail on Sunday) and restaurant critic, Giles Coren. The Bell Inn has also been featured in The Times ‘Best Places to Stay: 100 Top British Hotels”.

• Dodo Pubs Lease of The Cross Hands, Bristol

The Team, led by partner Doug Armstrong, assisted Dodo Pubs Co with the acquisition of it’s newest location  – The Cross Hands in Bristol.  Dodo Pub Co now has seven neighbourhood pubs in its growing portfolio (including The Bottle of Sauce in Cheltenham and The Rusty Bicycle in Oxford), each offering a traditional yet quirky welcoming style. The All Inn, as the pub will be renamed, will reopen on Staple Hill Road in Fishponds, in May 2023, and is the latest pub to be rescued from closure by co-founders Leo Johnson and Chris Manners.

Jo Bewley, Heads of Property Services, said of the last 6 months “Another busy six months for the team and great transactions to have been involved with showing the depth of expertise of the team”.

These notes have been prepared for the purpose of articles only. They should not be regarded as a substitute for taking legal advice.