Claphams Secures Commercial Lease for New Business Venture in Newton Mearns
The content of a commercial lease will vary depending on several things such as the type of property, its physical condition, the property market and the relationship between the landlord and the tenant. In this case, Claphams were instructed to act for a new local business, 110 on Ayr Hair Salon, who were looking to take on premises in Newton Mearns. Due to our extensive knowledge of commercial leases and expertise, our property solicitors were able to secure a favourable lease for our client to begin their new business venture.
Summary
This was an assignation of a commercial lease. In checking the existing lease and title conditions, we discovered that the lease was a full repairing and insuring lease with very onerous liabilities, especially given the length of time left to run on the existing lease, which was three years.
How Claphams Helped
- We negotiated with the Landlord’s agents an extension in length to the lease and a break option.
- A rent review was due to take place shortly after the proposed date of entry- we negotiated a new rent so that the tenant would not be hit by an immediate increase after entry and had the rent review deferred.
- We limited the clients’ liabilities regarding common repairs especially in relation to any repairs to the car park.
- We clarified what was meant by management charges so that our client knew exactly what outgoings they were liable for from the outset.
- We clarified whether VAT was payable on the rent. VAT is a complicated area in relation to commercial leases; therefore it was important we were able to clarify this for our client.
- We negotiated that each party would be responsible for their own legal costs.
- We clarified with the factors whether there were any imminent repairs to the common areas.
Outcome:
Claphams ensured our client was fully aware of their liabilities and responsibilities attached to their commercial lease. This allowed them to produce a detailed business plan to help them in their new venture, without any nasty surprises further down the line which could impact the running of their business. We are also pleased to say that their business is going from strength to strength.
Contact Claphams Commercial Lease Solicitors in Clarkston& Newton Mearns Today
A commercial lease is a document that must be thoroughly examined before it is signed, due to potentially restrictive terms which can affect the running of your business. At Claphams, we have experience advising both landlords and tenants of all areas involving commercial leases. We will explain the terms to you and how they will affect you and your business.
Speak to one of our friendly and approachable property lawyers to see how our expertise in dealing with all types of lease agreements for all kinds of businesses can help you. We offer practical, pragmatic and comprehensive advice, free of legal jargon. Contact us today on 0141 620 0800 or fill out our online enquiry form.
