The process of purchasing the lease of 61 Burleigh Street is proving to be very protracted and I know that some of our supporters are feeling frustrated about this. We have to follow the legal advice of our solicitors, as we would potentially be putting the branch funds at risk if we were to sign the lease without getting the proper safeguards.
At the moment, we are waiting for the freehold owner of the shop to provide what is called a "licence to assign", which is a legal document confirming that the current tenants (who currently lease the building) have permission to transfer the lease to us and that there are no additional conditions, on top of those in the actual lease, which could be detrimental to our ability to use the shop or result in increased cost to us.
We have the purchase funds waiting in our bank account and a mountain of sales stock stored at 188 Mill road, so once the lease and licence are available, we should be able to open very quickly.
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