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Costa Limited

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Service: Landlord Engagement – Electric Vehicle Charging Points | Sector: Retail

The Challenge

  • Costa Coffee have partnered with Instavolt to roll out rapid EV charging points to their estate of c.350 drive thru stores.
  • Existing stores do not have the ability to sublet part or use as EV charging therefore change of use and deed of variation expected for each lease.
  • Gerald Eve enlisted to engage with landlords an obtain consent to the sublets.

The Solution

  • GE worked on development of LL pack and liaised with the EVC provider to gain insight and knowledge of the sector.
  • Review of the estate for potential locations within Costa’s control and with viable grid costs yielded list of sites to prepare plans for and approach landlord.
  • Focus of landlord engagement was on convenience for customers and environmental benefit with disclosure of low rents involved.
  • GE negotiated LL/solicitors fees to an acceptable level.

 

The Result

  • Roughly 50% success rate in securing LL consent with lack of financial gain sited as exclusive reason for rejection.
  • GE successfully built process of shepherding sublets through legals, authorising sign off for Licence to Underlet, Licence to Change Use, Licence to Alter, Wayleave and Deed of Variation for each site enabling the projects to proceed
  • Setting sublets up on Database to allow rents to be collected.
  • 21 sites with chargers.
  • 40 chargers up and running.
  • Between 4,000 and 7,000 charging sessions per month across the portfolio.
  • 74,900 charging sessions in 2023.

 

Related Service & Sector

Corporate Real Estate Retail Environment

Key contact

Henry Lang

Associate