Commercial Property/Leases
COMMERCIAL PROPERTY LAWYERS NORTH LONDON – SOLICITORS FOR LEASE
Commercial premises are a key part of a typical business’s expenditure and form a key part of a business’s business plan. However, taking on a lease can be risky and be a big commitment. Unlike the residential lettings market, commercial tenants do not receive a great deal of statutory protection.
It is therefore important to make sure you get professional legal advice from the outset to minimise the risk and ensure you are taking on a lease which is right for your business and provides you with value for money.
Commercially orientated advice for both landlords and tenants
We have an even split of commercial landlord and tenant clients. Whether you have a small or large portfolio; need help managing your portfolio or want assistance in evicting a tenant, North London Solicitors are here to help by providing you with professional, commercially orientated advice.
To find out more about our services for commercial landlords and tenants throughout the North London area, please get in touch.
Types of lease
Our solicitors are fully qualified, highly experienced and commercially astute. This ensures for a smooth, timely service. It is a common misconception also that commercial leases are standard and non-negotiable. Nothing could be further from the truth. This is an area where experience counts and failure to take good advice can end up being very costly We commonly deal with:
- Retails unit leases
- Restaurant and café leases
- Office leases
- Industrial unit leases
- Shop leases
- Licence agreements
Our services are not limited to buying and selling, we deal with lease or licence negotiations, assignments, applications to sub-let, deeds of variation, lease terminations and landlord & tenant disputes. If you have a particular type of business lease that hasn’t been included here, please get in touch to find out how we can be of service.
Common commercial lease pitfalls
Whether you are new to game or an established player, you will want to avoid the common pitfalls of undertaking a commercial lease.
1. Time – you should avoid signing a lease longer than three or five years. It is difficult to see that far into the future and your business might enjoy explosive growth, rendering the premises too small and unsuitable.
2. Use – you should make sure that the premises you sign up for are suitable for your business and the type of uses you have in mind are even allowed for by the lease. Planning permission may dictate what the premises can be used for. Having a commercial property solicitor conduct searches will make sure you are aware of what the premises can be used for.
3. Expense – you should ask whether you will have to pay service charges and whether your rent will be subject to VAT (which can be the case even if your business is VAT registered.
4. Repairs – you will want to make sure it is clear as to who is responsible for repairs to the property. If you want to make alterations to the property, you will also want to make sure that you are aware of whether you will have to return the premises to their original condition.
North London commercial property solicitors can help with all of the above issues.
Avoiding the pitfalls of commercial property leases
The best way of avoiding the common pitfalls involved with a commercial lease or commercial property is to seek bespoke, professional legal advice.
For a quote and to find out more about our legal services in North London, please get in touch.