Whether you are an occupier looking to move in to new space or a landlord bringing in a new tenant, you know just how vitally important it is to get the lease document right. There is only one chance to do this. At Worthingtons we have a highly experienced team of lease negotiators who can take the basic terms you have agreed and translate them into a comprehensive and robust legal document that will stand you in good stead for the life of the lease.
Working with you and if relevant, with your agent, we will identify the aspects of the deal that are important to you and not just focus on the “lawyers’ points”. We adopt a firm but constructive approach to negotiations, always keeping in mind the commercial drivers of the deal. Through our accumulated expertise we can bring to bear the best and most up-to-date thinking on the various aspects of a typical commercial lease including:
- Agreements for Lease – to cover everything from simple enabling works to comprehensive development obligations, dealing also with planning conditions, statutory consents and the like
- Repairing responsibilities – where does one party’s responsibility end and the other’s begin?
- Insurance and reinstatement following damage, including criminal damage covered by NI legislation
- Permitted user – what should be allowed and what should be prohibited, always keeping an eye to the future
- Tenant incentives – how best to structure them
- Break options for both tenant and landlord – what pre-conditions (if any) should you accept?
- New technology – we make sure you have all the necessary lease rights in place to exploit the latest retail technology
- Stamp Duty Land Tax – keeping tenants right on the increasingly complex and onerous compliance regime
- Service charges – what costs tenants should contribute to and what should be excluded from charge
- Terminal dilapidations – how can tenants best protect their position and minimise potential exposure? Landlords will look to have all the bases covered in terms of repair, decoration and reinstatement.