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Taking a Lease of a Commercial Property2022-10-06T14:33:31+00:00

Taking a Lease of a Commercial Property

Commercial Lease Solicitors in Ipswich, Colchester & St. John’s Wood

Maybe you have an existing business and are looking for new premises due to your business expanding or evolving. Alternatively, you may be a micro business looking for commercial premises to start operating from.

Whatever your reason, Attwells will help you navigate the commercial leases process and ensure you do not fall into any possible pitfalls. We pride ourselves on offering our clients jargon-free legal services and transparent pricing.

Commercial Leasing & Letting

This is an exciting and daunting time and renting commercial premises for the first time can feel like a huge step. Most business owners feel the same way due to the financial commitment renting commercial premises can entail. This often is compounded by legal jargon; contract clauses and regulations featured in most leases. Therefore, we always recommend you seek business legal advice prior to signing any commercial lease arrangement.

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Attwells trusted commercial leasing and letting solicitors in Suffolk, Essex & London

Room to Grow?

You should consider if the premises allows your business enough room to grow. Reviewing or having a three-or five-year business plan will help you consider possible requirements.

Longevity

Typically, commercial leases are five or more years so you need to plan for all possible outcomes.

Being able to sub-rent the commercial premises to another business, for example, would give you the option to move or close prior to your lease expiring.

User Clause

We recommend you discuss your future plans, and contingency plans you have with your solicitor. A solicitor will be able to draft a contract that provides you with the flexibility required for your business.

Full Commercial Lease legal service

What is included?

  • Ensuring the landlord’s solicitors have drafted the lease in accordance with the Heads of Terms.
  • Negotiation of the terms of the lease with the landlord’s solicitors
  • Review of title, searches, and landlord responses to CPSE enquiries
  • Report to you on the terms of the lease
  • Completion of the lease
  • Payment of SDLT (if any) on the lease
  • Registration of the lease (if applicable) at HM Land Registry
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If you don’t require a full review you may be interested in our Summary Commercial Lease Review Service.

Attwells will review your lease for £720 plus VAT. Your lawyer will review your lease upon payment. We aim to review your lease within 3 to 4 working days, offering recommendations in a formal letter.

A summary review includes:

  • Receiving a copy of the lease and plan and reviewing these
  • Providing a summary report of the lease highlighting the following points:
    • The rent, rent payment dates, and any additional payments required under the lease
    • Whether any service charges are due under the lease
    • Review of the rent
    • Does the lease have the right to renew at the end of the term
    • The position on VAT
    • The authorised use of the property
    • How the lease can be transferred or disposed of during the term
    • Termination provisions and the landlord’s right to re-enter
    • An analysis of the proposed plan and whether it is acceptable.
    • Any unusual provisions contained within the lease.
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Room to Grow?

When thinking about taking on a commercial lease you should consider if the premises allows your business enough room to grow. Reviewing or having a three or five-year business plan will help you consider possible requirements. Your solicitors will be able to help you factor these into any agreement.

Longevity

Typically, commercial leases are five or more years. Therefore, you need to plan for all possible outcomes. Being able to sub-rent the commercial premises to another business, for example, would give you the option to move or close prior to your lease expiring. Or you may wish to consider a payment holiday clause or a break clause.

User Clause

Depending on your business type or the sector your business operates in you may require some flexibility in the services you can offer. We would recommend you discuss your future plans and any contingency plans you have with your solicitor. A good property law expert will be able to draft a contract that provides you with the flexibility required.

Commercial Law Articles

Attwells Solicitors are property law experts – we understand that business owners are keen to know the latest property news but don’t necessarily have the time to unpick the jargon. Thankfully we simplify the law. If you would like to read our latest article, please subscribe.

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Attwells Solicitors LLP is a limited liability partnership registered in England & Wales under number OC327266. Its registered office and principal place of business is at Sun Buildings, 35-37 Princes Street, Ipswich, IP1 1PU. Attwells Solicitors LLP is authorised and regulated by the Solicitors Regulation Authority: SRA numbers 466580 Ipswich, 657512 Colchester and 437697 St. Johns Wood. VAT Registration No. 911 2527 59. We use the word "partner", on this website and generally, to refer to a member of the limited liability partnership or an employee or consultant with equivalent standing and qualifications. Confirmation as to the member/employee/consultant status of a partner practising through the LLP can be provided on request.
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