The rise of the ‘pop up’ shop in shopping centres and high streets throughout the UK has kept the retail team at Sherrards working flat out in the run up to Christmas. Led by Terry Fendt and Stephanie Kierans, they have provided the legal advice on 28 pop up stores for long standing client Menkind Limited in the last few months. Promoted by Mary Portas as a way to regenerate high streets after the 2008 recession, ‘pop ups’ are now a sophisticated and carefully calculated business tool allowing many retailers to test locations, launch new products and promote brand identity, particularly around Christmas time
Sherrards’ retail team manage property portfolios for numerous household name retailers and recognise the evolving market and the need to provide expert commercial advice quickly and effectively. Understanding the needs of the client, the team can negotiate a less onerous short-term lease, for example with limited repairing obligations and turnover rent within a very short timescale. Many retail companies experience an uplift in sales in the run up to and during the Christmas period, so the pop up store provides them with a temporary unit which can then be removed after the festive period.
- A temporary store allows many retailers to try out new locations or even a new position in a shopping centre or high street.
- Pop up store require little fit out as they are temporary and cost much less than a fit out for a permanent store.
- Pop ups allow landlords to keep their premises occupied throughout the year.
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