Room to Grow: How Swyft took its brand from screens to showrooms

Until recently Swyft were an online only retailer selling “sofas in a box” which are quick to assemble. They have identified that the move into physical retail represents their next strategic phase of growth and so want to establish a retail estate. Following a referral from their property agent they instructed Greenwoods in connection with a short-term lease/pop up at Islington Square which has performed beyond expectations since opening and now they have elected to take two “traditional” leases at Westfield London/Westfield Stratford, plus an additional lease for a railway arch location at Battersea.

The wider business challenge was taking the company from an online supplier to a retailer with a number of locations. Two locations in particular were quite complex:

The Islington lease required the Landlord to obtain vacant possession of the unit from a previous tenant who was in administration. Due to time constraints it was agreed that the Landlord would structure the transaction as a forfeiture with the grant of a new lease.

With the Battersea lease, there was the possibility of works being carried out after completion. This could affect trade, and impact the clients commercial goals.

Alex was careful to always maintain the wider business goals, and ensured all the leases were acquired in good time. He communicated well with the client and made sure each lease protected Swyft and allowed them to successfully step into the next stage of their growth. For example, he ensured all parties were clear on what could and could not be carried out as part of the post-completion works in the archway location in Battersea.

All leases were efficiently acquired and the client was enabled to make the huge strategic leap from an online retailer to having a group of physical locations.