Considering the type of commercial property to rent
There’s not a week that goes by when our commercial property solicitors aren’t dealing with a commercial lease or lease renewal. As we work alongside such a wide variety of businesses in Leicester, we took a look at the types of commercial property currently available to them, and in which areas certain types of commercial property are hard to come by.
|Type of commercial property||Approximate percentage of available property in Leicester|
|Serviced office unit||15%|
|Light industrial property||11%|
|Hospitality or catering (pubs, restaurants, cafes and takeaways)||5%|
|Factory||Less than 1%|
|Car showroom||Less than 1%|
|Hairdresser||Less than 1%|
|Nursery||Less than 1%|
The location of your commercial property
If you are operating a business that relies on passing trade or being able to meet with your clients and customers face to face, then regardless of whether you’re a motor repair garage, a hairdresser or a business that uses offices, you’re going to need to be easily accessible and relatively local to most people. Then you have the consideration of parking – either on your premises, or available nearby.
On the other hand, if what your business does requires a great deal of space for products to be made and then distributed, a good road network may be your primary location consideration.
The length of your commercial property lease
This is surprisingly commonly overlooked. When moving your business into a commercial property, it’s all too easy for it to feel like your business’s permanent base. However, if your lease isn’t as long as you need it, then your landlord is perfectly within their rights to put your rent up or sell the commercial property as soon as your lease expires.
Similarly, if you sign up to a ten-year lease but then find out that the market that your business operates in is suffering and your business will struggle to stay afloat, it can be difficult negotiating your way out of a long-term lease.
The conditions of your commercial property lease
Conditions that you will need to carefully consider and seek the advice of a specialist commercial property solicitor about include conditions regarding:
- Lease term
- Leaving a lease and break clauses
- Rent reviews
- Landlord entry and notice
- Landlord communications
- Repair and decoration
- Maintenance responsibilities
- Service charges
- Your rights and responsibilities
- Vacant possession
- Any other clauses
Experts in commercial property leases and rent advice
Our team of commercial property solicitors are all exactly that. We are solicitors, who are highly qualified, highly experienced and highly efficient. If you would like any advice about commercial property, we are always happy to hear from you.
Contact a specialist commercial property solicitor
You can speak with a specialist in commercial property leases today. Either email me directly at email@example.com or call your local office, using the telephone numbers below:
Leicester call us on 0116 254 8871.
Hinckley call us on 01455 639 900.
Market Harborough call us on 01858 467 181.
Corby call us on 01536 851050.