Commercial leases are not retail shop leases and are best handled by commercial lease lawyers. Retail shop leases are also governed by the retail shop leasing legislation which imposes greater rights, protections and obligations on the parties than is otherwise the case.
With commercial leases, the parties are largely left to negotiate their own rights and obligations. This means the parties are at greater risk. The risk of not identifying a critical right or obligation and including it in the lease. The risk of not understanding what it is that they are agreeing to. The risk of not negotiating the best deal possible. The risk of agreeing too more than they should have.
Don’t take the risk of negotiating and signing a commercial lease without legal advice. We have seen all sorts of horror stories; the landlord who has signed a five year lease with no right to review the rent during the term. The landlord who has a five year lease, the tenant goes insolvent and realises they don’t have any personal guarantees from the directors. The tenant who is stuck paying excessive outgoings. These are just some examples of how it can all go wrong.
We often also see clients who don’t appreciate the risk of a commercial lease. It is a contract which means it is enforceable by the other party. It also means you can’t just walk away from the lease and not expect the other party to have rights to recover from you. A breach of lease does give rise to contractual rights including the right to sue for damages. Those damages can be significant but there are ways of mitigating the damages if you start planning earlier rather than later and talk through your proposed exit from the lease with an experienced lawyer.
Call us today for an initial consultation with an experienced commercial lease Lawyer. Make no mistake, we value you as a client and we want to provide you with a dedicated, trusted and effective legal service.