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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