Morecambe - New store acquisition on behalf of retained client - Sainsbury's Supermarket Limited
A competing operator was close to securing a deal to buy for re-development Christie Park, the home of Morecambe Football Club, for a new food store. A successful planning application by a competitor would preclude any new Sainsbury's store from being developed in the town for the foreseeable future.
Having been advised that the competitor was close to completion on the purchase of the property, Colliers undertook a thorough review of potential sites in the town, concluded that Christie Park was the optimum location for a new food store and advised Sainsbury’s to pursue the opportunity.
Given the significant time pressure, Colliers co-ordinated the Sainsbury's consultancy team to ensure that a deal was progressed rapidly. Following complex negotiations, Sainsbury's were able to secure the site on an unconditional basis from the vendor.
This deal secured Morecambe FC's move to a new purpose built ground and provided Sainsbury's with the opportunity to pursue a planning application for a new food store.
- Understanding client brief for a new store in Morecambe.• Review of suitable site opportunities.
- Identification of best option.
- Negotiations with vendor.
- Review of legal process and liaising with vendor’s representative on behalf of client.
- Co-ordination of Sainsbury’s consultancy team.
- Instruction to solicitors.
Morecambe FC's first game at the new Globe Arena took place on 10 August 2010.
Sainsbury's new 40,000 sq ft net sales store opened in November 2010.