Vickers & Co. Solicitors - Leases - Taking On Leased Business Premises

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Taking On Leased Business Premises:

Are you getting expert advice?	Besides the risk of accepting hidden liabilities, everything is negotiable if you know how.

Is the lease for more than 10 years?	Short (5-10) year leases are the trend - give more flexibility.

Have you checked the 'going' rate for the location type of business?	An independent view strengthens your negotiating position.

'Full repairing' obligation?	If lease is under 5 years, then try negotiation to delete clause or cap service charges. If not, Take Care! Proper survey essential to detect possible liabilities.

Landlord reserves right to charge VAT?	If it is a short lease and you are not VAT registered... Get landlord to agree not to during your term.

Saddled with on-going liabilities e.g. for later tenants?	Problem if no break clause. Negotiate away if possible especially for short leases.

Rent review after less than 5 years?	Unusual unless lease is not a multiple of 5 (eg 12 years).

Upwards-only rent review?	Still common, but worth trying to negotiate anyway!

Checked assumptions for calculating market rent at review?	Take Care! Lease can contain wording which will lead to sudden big increases.
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For further information:

Please e-mail aatchison@vickers-solicitors.co.uk.

N.B. for information only - this guide does not replace the advice of a solicitor

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