Lease Negotiation
The Challenge
O’Neill & Co were contacted by a commercial entity who had operated from a premises in Dublin’s Parnell St for over 30 years. In that time they had built up a secure and profitable business. The property had recently been sold and the new owner wanted to redevelop the site which required vacant possession. This was very daunting for the tenant who had concerns over having to relocate their business after such a long period of time and the subsequent upheaval it may cause.
The Solution
O’Neill & Co represented the tenant in negotiating a surrender of the lease. The objective being to secure compensation that would be offset against any costs the tenant would incur as a result of having to move their business, including potential downtime while they relocate. After intricate negotiations O’Neill and Co successfully secured a compensation package which reflected their long occupation of the property. O’Neill & Co also assisted the client in identifying alternative premises to relocate their business and secured competitive lease terms on their behalf.
The Benefit
The tenant had professional representation in particularly difficult negotiations giving them the peace of mind that their best interests were being represented. They were happy with the compensation secured and O’Neill & Co also assisted in the relocation of the business to alternative premises quickly to limit any cessation of operations.
Key Contacts:
Darac O’Neill
Stephen Keeler