Boots the Chemist is taking Hammerson UK Properties to court for a new tenancy of shop premises at Brent Cross Shopping Centre in Hendon.
Hammerson served a notice to terminate Boots existing 25-year lease of the shop on 28 March, and said it would oppose an application for a new tenancy.
Boots thereupon served a counternotice under the Landlord and Tenant Act 1954, informing Hammerson that it would not be willing to give up possession of the premises and putting forward proposals for a new lease.
The old agreement, dated 1979, specified an initial rent of £88,280 pa. Boots proposes to replace it with a 15-year tenancy a rent of £1m pa.
PLS News 6/12/00
