The importance of retail leases and what you need know
Napoleon once described England as “a nation of shopkeepers” and for Commercial Property lawyer, Paul McGladdery, those shopkeepers and their business needs form an enjoyable part of his day to day work in commerical property law.
Hairdressers, cafes and coffee shops, take aways, launderettes and local shops are a familiar sight on High Streets up and down the country, part of the fabric of our society. The leases needed for these businesses are a crucial aspect of commercial property law requiring detailed legal expertise to ensure that both landlords and tenants enter into agreements that protect their interests.
What to expect from your Commercial Property Solicitor
Commercial property lawyers play a vital role in structuring, negotiating, and finalising these leases, ensuring compliance with legal standards and minimising potential disputes.
“Changes in property law, such as reforms in commercial leasing legislation, require continuous legal awareness, as do changing economic situations and sometimes this involves a renegotiation of terms,” said Paul McGladdery.
“Whether acting for landlords or tenants the expertise of a professional solicitor is needed, our due diligence, and regulatory compliance will hopefully ensure the smooth operation of retail leasing arrangements and help keep our high streets thriving,” he added.
Drafting and reviewing retail lease agreements
Your solicitor will ensure that lease agreements are comprehensive, legally sound, and aligned with your objectives. This includes defining rent terms, lease duration, break clauses, and maintenance responsibilities.
We will negotiate terms to secure favourable conditions for clients, whether landlords or tenants. We also conduct due diligence to assess property ownership, planning permissions, and potential liabilities.
Advice on lease terms and obligations
Retail leases often include complex clauses regarding rent reviews, service charges, and repair obligations and your solicitor will provide clarity on these aspects to avoid future disputes.
We can assist in resolving lease disputes, whether through negotiation, mediation, or litigation and work with our wider commercial team on this. We will also manage lease renewals under the Landlord and Tenant Act 1954, advising on statutory rights and obligations.
Compliance with regulatory requirements
All retail properties must comply with various legal regulations, including planning laws, environmental requirements, and accessibility standards and we can guide clients through these compliance matters.
For legal advice on commercial leases including retail lease agreements or lease renewals contact our commercial property solicitors on 0161 785 3500 or email enquiries@pearsonlegal.co.uk
Subscribe to our newsletterPlease note that the information and opinions contained in this article are not intended to be comprehensive, nor to provide legal advice. No responsibility for its accuracy or correctness is assumed by Pearson Solicitors and Financial Advisers Ltd or any of its members or employees. Professional legal advice should be obtained before taking, or refraining from taking, any action as a result of this article.
