Commercial / Retail Leases
A commercial lease is a contract to allow you to use a shop, factory, or other commercial premises for the conduct of your business. If you are leasing premises for a shop, it is likely that you are covered by the Retail Leases Act 1994, and its subsequent amendments.
- When you are a Landlord, it is important to have a lease written and tailored to your specific needs, rather than relying on some kind of generic "one-size-fits-all" document. Whilst they may be useful in the short term, when trouble arises you will find out how little your rights are protected.
- What you need is an experienced lawyer to sit down and talk with you about the premises, and after taking into account the location, types of premises, and other significant matters, draw up a comprehensive lease document that will protect your rights but not be so lengthy or cumbersome as to put off prospective Tenants.
- Having the right lease is only the start – once you have found a tenant, its important to be able to assess if he is the right person. We can carry out various searches and enquiries in this regard, working hand in hand with your agent to ensure you have the best quality tenant.
- A commercial Lease is a complicated legal document which should not be entered into lightly. The success of your business depends on it! You need to know the pitfalls and problems before you sign, so you can either decide not to proceed, or negotiate out of them. The lease is of the utmost importance to your business, as without a place to trade from, you can't run your business. Furthermore, you will hopefully spend years building up your good will in a particular location, if you don't have a lease you could find that the landlord decides to evict you on short notice, leaving you high and dry.
- The Lease is the very foundation of the Goodwill of your business, and you can't afford to take any risks with it.
- You need an experienced solicitor who can read the lease (every word on every line on every page), not only to give you a comprehensive advice but also to negotiate with the landlord to get rid of some of the more problematic clauses.