At Boultons we have a knowledgeable and experienced team with a long history of letting and managing surplus commercial space, including Retail units, Industrial units and Offices.
Our eye catching Commercial V-Boards are a mainstay around the town and are synonymous with quality.
Our team provide in depth advice prior to marketing in areas such as lease terms, planning, tenant suitability and investment management.
The Boultons marketing approach aims to highlight your property and make sure it is marketed to the best potential tenants. The marketing approach includes;
- Internet listing on our own website and on Rightmove.co.uk
- A detailed brochure with multiple photographs, dimensions and description.
- Circulation amongst our actively maintained mailing list of potential tenants
- A highly visible and striking Commercial V-Board.
- An individual nominated negotiator to liaise with yourself throughout the whole process.
- Following completing of any rental agreement we can manage your property including, rent collection, management of repairs, lease and rent renewal.
If you would like to arrange for one of our team to provide a free market appraisal of your commercial property please call now on 01484 515029 or click here.
A commercial lease will contain main different factors. These factors are known as the terms of the lease. They include but are not limited to the following;
Alienation - Subletting/assignment – Landlord’s can prevent the tenant subletting the lease or assigning it to other people.
Break Clauses – Some tenants may ask for a break clause within the time frame of the lease. This would be a specified date in which the lease could be broken, subject to prior written notice. This is more prevalent in recent times. Boultons can advise and negotiate a break clause structure that protects the landlord’s interests.
Forfeiture – Forfeiture clauses help protect a landlord from tenants that are not paying the rent. Tenants will be able to apply to the courts for relief, which mean they are not the last word in rent arrears, however they are a useful tool art the landlord’s disposal.
Planning use classes – Each property, whether residential or commercial is classified into a specific use by the planning authorities. In commercial property the use class is more important due to the variety in types of businesses there are. Boultons can advise whether a change of use would be required to improve the marketing of the property and whether potential tenant’s proposed businesses fit in with the current planning use of the property. Click here to find out more
Rent – How much, how and when the rent is paid.
Rent Free periods – Whether there is work to be done at the property or the tenant would like a ‘grace’ period. Rent free periods are very common in commercial leases in the rpesent climate. At Boultons we always try and negotiate on the landlord’s behalf, that if a rent free period is agreed, it will be a) off set in the lease, as to not upset the landlord’s cash flow and b) in return for the tenant improving the property.
Rent Reviews – Lease terms in excess of 3 or 5 years are quite often subject to rent review. The most common type of rent reviw is known as “Upwards Only to Market Rent”. Therefore every 3 or 5 years or a period to be agreed the rent is re-assessed and if the market rent has increased then the landlord can serve notice to increase the rent. At Boultons we handle these rent review negotiations for both landlords and tenants.
Repairing obligations – There are two common types of Lease… Full Repairing and Insuring and Internal Repairing and Insuring .. These phrases relate to the Tenant’s obligations. It is best practice for the landlord to insure the property and charge this back to the tenant. This ensures that the landlord can sufficiently insure the property.
Term of the lease – Leases are commonly 3 or 5 years long or multiples thereof.
Works to be carried out – The landlord or the tenant may agree to complete some work to the property either before the letting or at the beginning of the letting.