Shoosmiths advises AEW Europe on new BrewDog and Tapas Revolution leases
Shoosmiths has advised AEW Europe on significant new leasing transactions at Festival Place shopping centre in Basingstoke.
The leading law firm supported AEW on transactions with BrewDog for a 15-year lease of a c. 5,000 sq ft new unit, bringing its craft beer and food offering to the centre. Another 15-year lease to Tapas Revolution brings a further food and beverage (F&B) offering to the scheme.
Brewdog has now opened its doors, with two guest taps to support Basingstoke breweries. Tapas Revolution plans to open to customers later this summer.
Securing BrewDog and Tapas Revolution forms part of Festival Place’s strategic leasing plans, following positive trading performance and agreeing a series of new leases and renewals in the past 12 months. This includes a recent agreement with Five Guys that Shoosmiths also advised on.
Simon Barrett, managing director and head of asset management at AEW Europe, said:
“The arrival of BrewDog and Tapas Revolution will further boost Festival Place’s F&B offering. Shoosmiths’ guidance was pivotal to finalising the deals and adding fantastic brands to our roster of operators. There are more F&B projects in motion, which we look forward to announcing soon. The Shoosmiths team continues to help us realise our plans for the centre.”
Shoosmiths real estate principal associate Nicholas Dalgleish led on both transactions, alongside partner Nathan Rees and senior associate Aimee Teague.
Nicholas Dalgleish, real estate principal associate at Shoosmiths, commented:
“These latest agreements with BrewDog and Tapas Revolution are key additions for Festival Place. It builds on recent momentum, with Five Guys also taking space and joining the list of top-flight food and beverage brands now operating at the scheme.
“Shoosmiths’ partnership with AEW spans several years and we are looking forward to helping deliver the strategic vision for Festival Place – creating a landmark location and high-quality customer experience through a combination of retail and leisure.”