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Clothes Shop Leases – Tenant Tips - By Chris Bartlett
Over the years, I’ve advised many a tenant looking to take on shop leases. So, I’ve decided to put together some pointers that I’ve found are of special importance to clothes shop leases.
Make sure you consider them carefully before you sign on the dotted line.
Recent Customer Review (24 June 2020): 'My commercial lease has been very difficult on the landlords side of things and James has dealt with every last detail efficiently and professionally...' Read more >
- Planning Consent – Change of Use
- Trading Hours
- Service Charges
- Security at the End of the Lease
- Rental Agreement Concessions for Fashion Retailers
Call Chris today on 0151 227 3391. He is an experienced shop lease solicitor. He offers a free no obligation quote for your clothes shop lease!
Fashion retailers are among the worst affected by the ongoing lockdowns and current retail slump. In the US, the major chain Urban Outfitters has called for variable leases, where the level of rent is performance-linked and dependent on turnover, while the owner of Tommy Hilfiger has, along with a number of other major fashion retailers, sought rent relief for its stores.
The owner of London’s Covent Garden market has also begun to offer certain tenants variable leases, which is indicative of the mood among some property companies that there is a need to share the pain with their retail tenants. Other landlords are more resistant to the idea of variable rents, but it may ultimately prove to be the least bad option for them and mutually beneficial.
Many retailers argue that fixed leases are economically unviable in the current climate, as they simply do not know when the next lockdown is going to be imposed or how long it will then last. The fixed costs of being open have also risen due to measures taken by shops and stores to comply with government safety measures.
The debate over fixed or performance-linked leases is not going to go away, and online sales will continue to eat into the footfall and turnover of high street retailers even after the current pandemic ends. Many retailers large and small will be pushing for concessions in their rental agreements, and legal advice may be necessary at any stage.
Our firm advises both landlords and tenants of commercial properties in relation to all aspects of leases, contact us today for a free no obligation quotation.
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James also has experience in buying and selling commercial property. He is friendly and very approachable. James works with Christopher Bartlett, who is an experienced commercial property solicitor working on large development projects.
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Commercial Lease Information:
- Commercial Lease Services For Small Businesses
- Why Legal Advice Is Important When Taking On A Business Lease
- Negotiating Commercial Lease Terms
- How To Negotiate A Rent Free Period
- The Risks Of Being A Guarantor On A Commercial Lease
- How Can A Tenant Exit A Commercial Property Lease?
- Stamp Duty On Commercial Property Leases
- Commercial Property Conveyancing
- Is It Possible To End A Commercial Lease Early?
- Evicting Squatters From Commercial Property
- Commercial Property Solicitors: How We Can Help
Commercial Lease Types:
- Office Leases | Surgery Leases | Restaurant Leases
- Hair Salon Leases | Clothes Shop Leases | Newsagent Leases
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