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That wording is so ambiguous! Does the "it's" refer back to LXB or WM Morrisons?
V confusing. Will Morrisons now be able to negotiate a better deal with the new owner, and what effect will this have on all the other LXB businesses, like the offshoot responsible for the shopping centre?
I doubt it as Morrisons seem to have paid to get out of the lease.
Living on a legacy of the past and customer inertia can work for a while, but you should use the time to respond adequately.Yes, but none of the major supermarkets seem to know what they're doing since LIDL and ALDI arrived.
This one, I think. Perhaps.What "it's"?
It's added an empty building and a beautifully quiet carpark. What more do you expect for a few million quid?
This one, I think. Perhaps.
Other disrespectful, gloom-laden conspiracy theorists are available.Don't bother reading anything posted by that disrespectful, gloom-laden conspiracy theorist.
Can I just say LXB held the leasehold interest and had the right as the short term occupiers of the land to develop and lease to a third party. As effectively temporary owners of the land they granted a lease to morrisons, their right to do so.
this making LXB landlord and morrisons the tenant
The freehold in interest will now be taken up by the new jersey company after their purchase from LXB.
Morrisons, B&M and Just for pets now have their leases with the new company.
of course as one poster did allude too, depending on the contract and lease negotiation this might put them in a position to renegotiate if they wish, or they can simply accept the contract with the new freehold interest party.
selling on by developers is a common theme in the UK as it can see investors see a quick return on their investment. LXB are not a letting agent nor want to wait years for a return.
Quick buck earn't then onto the next development.
if that wording should be taken at face value that is the bottom line. However, as mentioned slightly ambiguous and poorly worded leading to an understandable mixed interpretation.
What "it's"?
The Group has previously exchanged an agreement with WM Morrison Supermarkets plc to surrender its leasehold interest in the Kingsmead site and completion of the surrender will take place simultaneously with completion of the sale.