09/07/2012

New free lease prepared by RICS to Inject fresh life into commercial property market.

POSTED IN General

A free small business retail lease developed in collaboration with the
British Retail Consortium (BRC) has been launched by the Royal Institute of
Chartered Surveyors (RICS).

The lease, authored by Nick Darby, SNR Denton UK LLP, has been devised to
simplify the often complex and time-consuming process associated with
commercial property leases and should help attract new and independent
retailers into vacant high street space.

Paul Bagust, Associate Director, Professional Groups and Forums at RICS,
said: “In simplifying the leasing process for landlords and small business
tenants, we hope to support SMEs and provide a boost to the British high
street in a time of decline – thereby contributing to overall UK economic
productivity. Moreover, by offering mutually beneficial terms to landlords
and tenants in a flexible lease, we are directly addressing the principles
of the Code for Leasing Business Premises – identified in the Portas Review
as a key tool in tackling the high street’s decline.”