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Business Leases

For most businesses, the property that the business will operate from, or that it proposes to operate from, is the starting point for the creation of that business and the property and the terms upon which the property is acquired can be crucial as to whether or not the business succeeds long term.

Often, the potential business tenant is so keen on acquiring the property that they do not give full consideration to the salient terms which will be imposed upon them. Points for consideration are, in part, detailed in DW Solicitors Business Lease Guide. Repairing obligations, service charges and the rent review provisions do need, in particular, to be very carefully considered.

The Tenant may be happy with the rent that is payable at the start of the Lease.  It may not, however, be viable for the  business to continue operating if the rent upon rent review doubles or increases by an even higher amount.  That may be particularly relevant where an extremely low rent is agreed at the start of the Lease.  The Practice’s Guide is a useful tool when considering a number of the most significant terms that need to be considered in the Lease negotiation process.

In the Lease negotiation process, consideration does also need to be given to the Land Transaction Tax/Stamp Duty that is payable.  That can be particularly relevant in relation to the length of the Lease.  In the process of considering the Lease period, particulars of the amount of Land Transaction Tax payable for say a 5 year Lease compared to a 10 year Lease should be considered.

The Practice acts for both Landlords and Tenants and has a very highly regarded reputation amongst the local commercial Agents and Surveyors, a number of which regularly recommend the Practice.

The Practice regularly shadow rights for local Surveyors who are appointed as Arbitrators or Experts for rent review determination or other disputes under Leases.

In conjunction with the taking or the granting of the Business Lease any (if any) licencing requirements are also fully considered.

For tailored advice and guidance, please contact our office on 01604 624222.




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