Lease deal completed in just 2 weeks for new Sheffield eatery
A two-week turn around on a deal overseen by Mason Thomas Law has ensured that the Danish-themed Lykke will be one of the first eateries to open in Sheffield’s £70million New Era Square development.
The swift turnaround of the deal means that Lykke will now benefit from the hundreds of students expected to make the move there this summer.
Cathy Thomas, Director and Lawyer of Mason Thomas Law, acted on behalf of client and Lykke owner Alex Moore during negotiations with developer Jerry Cheung for the 180sqm unit on Boston Street in New Era Square.
Lykke owner Alex Moore praised Mason Thomas Law’s approach, saying: “Mason Thomas Law was recommended to me by someone I trust, and I wasn’t disappointed.”
To ensure a speedy deal, Mason Thomas Law provided initial advice to Alex by telephone enabling him to negotiate his heads of terms with the landlord. This then enabled Mason Thomas Law to complete the deal in just over two weeks after receiving the draft lease documents.
“Having Cathy on hand to explain the details in layman’s terms was a real bonus and time saver. It was great to be able to pick up the phone and speak directly to her at any point throughout the negotiations.”
With the deal completed in only two weeks Alex and his team were able to get on site and begin the fit out of the new Danish-themed eatery which will open in early August 2021.
In addition to the indoor space, Lykke’s new remises at New Era Square also includes a large outdoor dining area ensuring the business is Covid-proof should restrictions return. This will be Alex’s second Danish-themed venue in Sheffield City Centre. He also owns Hygge Café which opened in Fitzalan Square in 2019.
Alex added: “I am excited to bring Lykke and our Danish concept of a relaxed multi-function work, meeting, eating and drinking space to New Era Square in August. It has been very well done by the landlord and is comparable to similar schemes in London and Manchester. I am confident it will become the new go-to eating and drinking destination in Sheffield.”
Cathy added: “Deals such as these take around 6 – 8 weeks to complete so I am delighted that we were able to complete in only two weeks. Both myself and Alex made sure we were fully available throughout the negotiation period, and this ensured a swift process and will achieve Alex’s goal of a summer opening for Lykke. My team and I can’t wait to visit.”