Make sure you choose the right premises for you!
To avoid costly mistakes, it is important to get a lawyer, who specialises in commercial leasing, to review the lease and help you assess whether the premises are right for you before you commit.
1. Can I use the premises to carry out my business?2. Can I do my fit-out?3. Is the remaining term enough?4. Can I put up my signage?5. Do the premises have all the facilities I need?6. Do I get the existing tenant’s fixtures?7. Can I use the existing business name?
1. Can I use the premises to carry out my business?
Your lawyer can check the current permitted use and the zoning of the premises for you.
2. Can I do my fit-out?
The landlord’s consent to any alterations should be obtained before you commit yourself.
3. Is the remaining term enough?
You should ensure that there is enough time left to run on the lease (including any options to renew) so that the deal is financially viable.
4. Can I put up my signage?
There is no point paying for premises if no-one knows you’re there!
5. Do the premises have all the facilities I need?
E.g. use of toilets, adequate car parking for staff and visitors, etc.
6. Do I get the existing tenant’s fixtures?
Do you want the existing tenant’s fittings to remain in the premises? This will need to be agreed.
7. Can I use the existing business name?
Unless you are buying the existing tenant’s business you do not usually get to use their name when you take over their premises.
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Please note: “This publication is for information purposes only and does not constitute legal advice. If you have any questions about this or any other commercial legal issue, please contact Helen Kay at Rise Legal.”