Experienced negotiators & advisors in retail and commercial leasing. For landlords and tenants.
We are experienced in all facets of retail and commercial leases. We offer a personalised service, getting to know you and understand your business to ensure negotiation of a lease agreement that reflects your long-term requirements and maximises your interest. We will advise you regarding your rights and obligations and can assist in the event of a dispute
Why is a Commercial Lease different?
There are significant differences between Commercial or Retail leases and short form commercial tenancy agreements. Commercial and Retail leases clearly set out most terms and can be tailored for each commercial property in accordance with the nature of the property and its intended use. Commercial or Retail leases often facilitate for a smooth relationship between a landlord and a tenant.
The terms of a lease will ultimately determine the legal relationship between the parties. A well drafted lease will benefit and protect both parties by being free of ambiguity and making allowance for fair procedure in the event of a dispute. A well drafted lease is legally binding and holds the parties to its terms and conditions and thus all parties should seek legal advice to ensure all provisions regarding rights and obligations are understood and their commercial and legal interests are protected prior to entering into a lease agreement
How do I negotiate the terms in my lease?
Most lease terms are negotiable, including length of the lease term, frequency and method of rent reviews, renewal options, method and amount of security provided by a tenant, and the extent to which a tenant must maintain or repair a property during and at the end of a lease.
Commercial and Retail leases vary from property to property and indeed for the same property dependent upon intended use. It is important to customise a lease reflecting your specific requirements and circumstances. GM Law can assist both tenants and landlords with lease negotiations to ensure your requirements are met with guidance on fair and properly terms.
Acting for Landlords
The value of a property, to a landlord, lies in the rental income it generates. GM Law acts for landlords to protect their property rental income with respect to the preparation and negotiation of all aspects of Retail and Commercial leases, in a competent and cost- effective manner and in accordance with current statutory obligations
Acting for Tenants
As rental costs represent a high proportion of your overheads, it is important to engage a solicitor to negotiate on your behalf to ensure there is certainty of terms and no hidden costs or conditions. GM Law will negotiate your lease to ensure there are no factors which may adversely impact your business.
You need to consider:
- The initial rental figure and any method of increasing rent
- The ability to transfer or to assign the lease, and any expenses in so doing
- The terms to end the lease, including “make good” provisions
- The length of the lease and renewal rights
- Who will be responsible for the payment of outgoings or other charges
- The insurance needs and who will maintain them
- Consequences of failure to pay the rent or compliance with other lease terms
- Dispute resolution processes
GM Law Assist with:
- Reviewing and drafting of leases
- Advice on new leases
- Disclosure statements
- Breaches of lease
- Option renewals and assignment of lease, and subleases
- Lease variation, and surrender of lease
We have acted on behalf of a range of industries including retail shops and shopping centres, offices, factories and warehouses. We thoroughly recommend you seek legal advice before committing to any lease because a poorly drafted lease may negatively impact your revenue and operations in the future.
When you work with us we will always:
- Negotiate a lease that protects your position and reflects your specific requirements
- Negotiate a lease with maximum benefit to you
- Minimise your stress
- Make sure you understand your responsibilities and rights under the lease
For Agents & Property Managers
- We will act quickly as soon as we receive instructions because we know time is precious in securing a lease
- We will facilitate a smooth transaction
- The leases we prepare are comprehensive which means that any negotiations are kept to a minimum