New Retail Lease
The RICS – in association with the British Retail Consortium – has issued standard format lease models for retail lettings.
Following on from the popular Law Society standard form of pre-printed lease, the new RICS model for shop units is designed to cut the cost and time of taking a new lease of retail premises. It is also designed to make it easier to understand – being written in more straightforward language – than a bespoke traditional lease document.
Copies of the new format can be inspected at www.leasingbusinesspremises.co.uk