Retained retail agents for GUESS
Services: Acquisitions, disposals, lettings and lease advisory
Guess is an internationally renowned brand with 1,640 stores worldwide and 16 stores in the UK. Brasier Freeth was first appointed by the global fashion retailer in February 2015 to help them with their property search in new priority locations, following a recommendation from Footlocker.
Once appointed, Brasier Freeth got stuck into three urgent problems, the first being a re-gear of their lease in Manchester where the Landlords were requesting a huge rent increase. With the help of Brasier Freeth, Guess was advised to serve notice to come out. In doing so the Landlord was obligated to be realistic and open up sensible discussions for a new lease in order to retain the store. After a few weeks both parties agreed a two year lease at the same rent as before, which led to a huge saving on original quoting terms.
The second challenge was a disposal of their accessories store in Westfield London which was making a loss, with the former agents having had no luck for the previous 12 months. Brasier Freeth worked with Westfield London to commence marketing which shortly after led to agreeing a surrender enabling Guess to come out of the store within four months.
The third problem was a loss making store in Bristol which was a very tough disposal, however through a strong relationship with the Landlords we managed to agree a surrender with a 12 month delay whilst the landlords agreed their new letting, giving Guess a solution to their problem.
In April 2016 Guess opened their first new store for 4 years in Gunwharf Quays, which was shortly followed by two further stores in Kildare in Ireland and Swindon’s McArthur Glen Outlet Centre.
In late 2016 Brasier Freeth started negotiating deals in York, Liverpool, Metro Centre, Oxford Westgate and Westfield London Extension. Terms were subsequently agreed and Guess had opened a trio of stores in York, Liverpool and Metro Centre by June 2017. By October 2017 our client had opened a store in the new Westgate Centre and their Flagship store in Westfield London opened in March 2018.
Brasier Freeth continues to work with Guess to develop their existing retail portfolio whilst searching for storage facilities for their some of their stores.
With Brasier Freeth as their retained retail agents our client benefits from a personalised service from a Principal within the Practice who is on hand to work with their team to support their growth plans.