Funding Your Work – Commercial Leases
Commercial Lease advice
At Bromleys, we understand that entering into a lease of commercial premises can be a stressful process and often involves jargon that can be unfamiliar to clients.
We offer several options to help you understand the practical implications and we can review the lease you intend to enter into so that you easily understand your rights, obligations and responsibilities under the lease* and explain the jargon in a clear and concise manner. The alternatives that we offer are as follows:
Option 1
Lease review with written observations & recommendations
Cost – A fixed fee of £600 + VAT**
Option 2
Lease review with written observations & 1st draft amendments
Cost – A fixed fee of £850 + VAT**
Option 3
Lease review and liaising and negotiating with the Landlord’s solicitors as regards the draft lease including a review of the title to the property and raising enquiries/arranging searches as appropriate.
Cost – We can offer a best estimate on a property/transaction specific basis + VAT** and disbursements (as applicable).
*for leases with a rent payable being below £50,000
**VAT is charged at the prevailing rate
Please note that the review carried out under Option 1 or Option 2 will be based on the Heads of Terms that you have agreed with the Landlord and on the instructions you provide at the outset. The review under Option 1 or Option 2 will not extend to reviewing title to the property or raising and acting on matters that would be revealed by any enquiries or searches.
If you have any questions or concerns regarding your lease and would like Bromleys to review the document for you, please do not hesitate to contact our Commercial Department on 0161 330 6821.