Sakura, 9 Hanover Street, London, W1

The end of an era – Anthony Lorenz worked at 9 Hanover Street in the early 70’s when he established Baker Lorenz at those offices. The ground floor came vacant and a Japanese client of his, Sakura then acquired what became one of the most successful Japanese restaurants in London. Unfortunately all good things come to an end and in approximately March 2010 the lease expired. The Landlord refused a renewal for redevelopment, although the Tenant had rights to renew. Complex negotiations were entertained whereby Lorenz insisted on the Landlord granting a renewal subject to a redevelopment clause which could have scuppered the plans of the Landlord to gain vacant possession on time. The Landlord gave additional compensation to the Tenant to get vacant possession and Sakura relocated to 23 Conduit Street where they continue to enjoy an incredibly successful operation. So now Lorenz has to walk further to this favourite lunchtime diner. Professional | Anthony Lorenz

6th December 2010, 03:30 PM

Sakura Restaurant, 9 Hanover Street London, W1

Tony Lorenz acquired this restaurant for Sakura way back in 1974 and ever since he has handled rent review negotiations. The Landlords have progressed with their intention of redeveloping but their timing was out of sync with the lease expiry and accordingly Sakura fought for a new lease. After doing battle on all fronts, including substantive legal arguments, a compromise was negotiated to take a five year lease from March 2009 at a reduced rent subject to a Landlord opportunity to break and a substantial capital sum being paid to Sakura over and above statutory compensation if as and when the Landlords redevelop. Professional | Anthony Lorenz

28th September 2010, 03:57 PM

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