We're delighted to have advised on the creation of the ‘pop-up’ Tesco store at NHS Nightingale Hospital
We recently advised on the creation of a 24-hour ‘pop-up’ Tesco store at the newly-built NHS Nightingale Hospital in London.
We advised Fox Bars ExCeL on the under-lease of its premises to Tesco for a temporary store to serve key workers at the ExCeL Centre in east London. The premises were previously a bar and restaurant until they temporarily closed during the coronavirus lockdown.
The deal for the new store was agreed in a matter of days despite the complexity of the lease arrangements. All parties involved worked together pragmatically and cooperatively to complete the agreement quickly, in order to allows the store to open as soon as possible. For example, Fox Bars ExCeL allowed Tesco to begin the fit-out of the store under licence before the agreement was fully complete.
"The store opened on Sunday 19 April and has already served thousands of key workers."
The lease for the store has multiple mutual break points, to allow for the store to continue operating for as long as is necessary for the Nightingale Hospital. The lease will revert to Fox Bars ExCeL at its agreed conclusion.
Fox Bars ExCeL was also advised by leading property consultancy Koopmans, where Managing Director Paul Koopman played a central role in bringing the parties together.
This has been a unique project to be involved in. It was great to be able to play a part in delivering a vital project so fast. It’s wonderful to see this deal signed and the store fitted out so quickly. It just shows that, despite these testing times, when all parties pull together great outcomes can be achieved very rapidly. We would like to thank Fox Bars ExCeL, Tesco, the freeholder of the site and all the advisers involved for acting selflessly and putting key workers first.
Julie Gingell, Managing Director of Fox Bars ExCeL, says: “It’s critical at the moment that where they can, businesses work together to help the country through coronavirus. We’re glad to have been able to do our bit by helping key workers at the Nightingale hospital. Getting the right advice has been the key for us to get this deal agreed so quickly, and I’d like to thank EMW and Koopmans for being commercial and pragmatic from the very start.”
Paul Koopman, Managing Director of Koopmans, says: “This was an unsual transaction but it has been great to bring together and work with a group of businesses that are focused on doing what they can for the benefit of the NHS and key workers at the Excel Nightingale Hospital. Our long association with Fox Bars Excel and previous experience working with Tesco was an essential element and Koopmans are proud to have done their bit.”
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All information in this update is accurate at the time of writing. It is meant for general information only and is not legal advice.