A comprehensive business lease with full provisions,
including break clause, guarantor, and more. Suitable for
offices, factory, workshop, and more. Suitable where your
term is less than seven years
About this document
This is a fully comprehensive business property lease in it’s finest form. It is our most popular commercial lease document. Like all leases, this lease agreement has been drawn primarily to protect the interest of the landlord. It is for a tenant to challenge those paragraphs which may not suit the circumstances.
Further, It is suitable only where the term is for less than seven years. Why? In England and Wales the grant of a lease for longer than 7 years must be registered at HM Land Registry. From 19 June 2006 any lease granted in England or Wales for a term of more than 7 years for a property registered with HM Land Registry must commence with a set of prescribed clauses known as clauses LR1 to LR14. This commercial lease does not include these clauses. We have other documents that do include these statutory paragraphs.
A note on new leases: To set up a new commercial lease and exclude security of tenure under the 2004 Regulations, you will need a number of forms excluding security of tenure. We provide these forms in a simple pack with full guidance notes. The pack is linked from the right hand side of this page. Use this lease agreement to protect your interests.
Application
and features
Suitable for a business letting of offices, workshop, factory, shop and others, premises which are part of a larger set of buildings, for example, a shop or a workshop
Not suitable for a residential letting alone or premises that are part of a large, multi-let building
Comprehensive provisions provide ideas for you to mould
Real law in plain English
Explanatory notes to guide you
Contents
Guarantor: essential if tenant is a limited company
Rent: paid monthly in advance, but can be changed to suit you
Payment provisions: all payments the tenant might have to make
Use allowed: including list of prohibited activities
Break clause: that is, premature termination on tenant’s notice
Landlord’s access: to view or show prospective lenders or buyers
Rent review: reviewed 3 yearly, upwards only
Repairs: tenant must maintain in same condition (not better)
Decoration: tenant to decorate in third year and at end of lease period
Insurance: landlord insures, tenant reimburses premium as insurance rent
Transfer of lease: tenant can transfer all premises with consent; no transfer of part only
Subletting: forbidden
Termination: what happens, and
Many other usual provisions to protect your interest.
Word
Count (approximate):
Document: 3200
words
Explanatory notes:
2200
words
Draftsman
This document is drawn and maintained by Net Lawman. It is real law in plain English.
