Shop Lease Solicitors Bristol
Meade-King, solicitors in Bristol, provides specialist advice on commercial property matters including shop leases. Our solicitors have acted on numerous commercial property transactions including lease advice for landlord and tenant of commercial property, sale and purchase of commercial property and various other matters. We are recognised by Legal 500 as one of the leading teams in commercial property in Bristol
Commercial Property Clients
Our clients range from major high street and international retailers
and national charities to developers, commercial property investors
and businesses. We also work closely with our insolvency team in handling
commercial property transactions on behalf of insolvency practitioners
Commercial Property Lease
Commercial leases set out the parties' obligations. Our solicitors advise in detail. As an extremely brief overview some of the lease considerations are set out below: -
Commercial Property: The shop lease defines the property and its extent. It is advised that a plan is attached (this may be a requisite if the lease must be registered at the Land Registry).
Landlord and Tenant: The lease names the parties. Solicitors will have to ensure that the Landlord has legal title to the commercial property.
Lease Period: The duration of the term of the lease must be specified. Are there any break clauses for a party to terminate the lease? If so, are there any conditions?
Lease Rent: The lease sets out the amount of rent and how it is payable. Does the shop benefit from any rent-free period and are there any Stamp Duty implications on how the lease is structured?
Lease rent review: Will the rent be reviewed (this is standard practice on a five yearly basis)? The review mechanism is specified in the lease (by a surveyor, RPI, upwards/downwards)?
Commercial Property Insurance: It is commonplace for the landlord to insure the shop. The lease will define the terms and how the tenant reimburses.
Service Charge: If the shop is located in part of a building a service charge may be due to pay for the maintenance of the common parts. How is this calculated or is it a fixed figure?
Repair: The obligation to repair the shop must be appropriate to the length of the lease. The shorter the term the more the Tenant should resist onerous repair obligations in the lease.
Alterations: The parties must balance the tenant's requirement to make alterations with the landlord protecting its interest in the commercial property
Use: The use must be specifically defined to allow the tenant to trade.
Rights granted: The lease may contain rights to use common parts (such as car parks passageways). Emergency escape rights should be incorporated into the lease.
Contact the Commercial Property Team
If you require solicitor's advice on a shop lease please email firstname.lastname@example.org