Mourant helps keep Monsoon open
09 December 2020
One of Guernsey's most prominent High Street stores is remaining open thanks to a deal facilitated by leading offshore law firm, Mourant.
Associate Laura Bougourd, supported by the Mourant Guernsey Commercial Real Estate team, worked on the deal to enable Monsoon to continue trading from 26 & 28 High Street, St Peter Port, Guernsey.
Laura Bougourd said she was delighted to have helped the property owners and the retailer come to an agreement which satisfied both parties.
"We worked hard to negotiate a new lease for Monsoon Stores which means two of the most prominent properties, right in the heart of St Peter Port's traditional High Street shopping area will continue to be used for retail purposes.
"By using the existing lease of the former tenants, we were able to promptly renegotiate aspects of the agreement to ensure that the store could continue trading which was essential to the ongoing success of the business. The new lease includes a turnover rent which is relatively new (and uncommon) for the Guernsey high street."
Guernsey Managing Partner, John Lewis said Laura's close working relationship with the tenant enabled a quick resolution so the store could continue trading.
"As noted above, Monsoon Stores Limited is part of the group of companies which make up the national retailers Monsoon and Accessorize. These are both prominent and busy stores on the Guernsey high street and we are delighted to have helped facilitate their continued trading following what has been an extremely difficult time for the retail sector.
"Laura Bougourd is very experienced in negotiating leases and she added value to the agreement by completing a professional and timely lease negotiation, allowing Monsoon to re-open their store following a brief closure during the COVID lockdown."