Modernised long-term lease secured for Sainsbury’s Beckenham following advice from RWK Goodman

Odyssey Partners, the owners of the Beckenham site, have agreed a 12.5 year lease renewal with Sainsbury’s.

The previous lease required updating given the chain’s more than four decades at the site and a RWK Goodman real estate team led on the revision and modernising of the lease agreement.

The team was led by real estate partner Chris Langan with support from senior associate Nathan Wescott on the agreement, with additional advice from partner Ian McEwan and associate Scarlett Doyle on matters relating to the Landlord and Tenant Act 1954.

Chris said: “With such a key property in Odyssey’s portfolio, it was vital that any agreement checked all the boxes needed to best align with their wider business objectives. In this instance, this was a complex agreement which needed to be structured correctly and brought up to the 21st century to ensure it could match those core goals.

“We’re grateful to have been able to bring our deep sector and commercial property expertise to this transaction to ensure that this lease could be modernised and agreed in a swift and smooth manner.“

Andrew Bygrave, Managing Director of Odyssey Partners, said: “Beckenham’s blend of residential affluence, connectivity, and established retail provision has ensured it remains a target destination for national occupiers, with Sainsbury’s latest commitment further reinforcing confidence in the town’s long-term retail prospects.

“We’d like to thank the wider RWK Goodman team for their support and commercial experience to help get this agreement finalised in a manner which benefitted all parties and reflects the enduring strength of this location as a premier retail destination.”