Commercial Leasing

Why Watermans?

What should I choose Watermans when leasing a commercial property?

With our extensive experience in letting retail, office, and industrial spaces, the experienced team at Watermans are well placed to lead you through the complex process of leasing a commercial property. We work with landlords and tenants across the whole lifecycle of their commercial let, from transactional advice and valuations, to lease advisory and management.

Depending on your needs, this may require the drafting and creation of a new lease, sub-letting, or assigning an existing lease on a property to a new tenant, or arranging the renunciation of a lease at the end of the tenancy. The obligations and terms under leases may bind you as a landlord or tenant for a number of years. In order to avoid any pitfalls or unforeseen issues, it is vital to seek legal advice at an early stage, prior to entering into a contract.

Our trusted legal team have over 30 years of experience and extensive market knowledge. Having previously acted in lease transactions, ranging from shops and cafes, restaurants and pubs, to industrial units, we know what questions to ask, what pitfalls to be aware of, and how to negotiate the best possible terms on your behalf. With our expert due diligence at every stage of the process, we use everyday language, and detailed feedback to enable you to make informed and confident decisions.

Legal services

Our legal service for tenants

At Watermans, we can act for you in taking on your commercial lease. We will also act for you at the end of your lease, advising you on crucial timings and dates for giving your landlord notice and serving this on your behalf. In addition, we provide legal advice on any obligations relating to your lease renunciation.

For lease assignation, where you are taking over the remaining term and obligations of an existing lease, it is also important to have due diligence and the right advice. With the landlord’s consent in place, we will prepare the necessary documentation, and liaise with all solicitors to ensure a seamless transfer of the lease.

At Watermans, we like to make things easy for you. That is why our comprehensive advisory and conveyancing service includes

• negotiating terms, including rental figures, length of lease, and break clauses
• reporting on the proposed lease in language you can understand
• checking title deeds, including for any obligations and lease limitations
• reviewing the insurance and VAT requirements
• seeking the EPC, asbestos and fire safety report and property enquiry certificates

But that’s not all we offer. On top of that, our service also includes

• advising on rent deposits and personal guarantees requested
• assisting with licencing (for the sale of alcohol, for example)
• dealing with the contract (missive) between you and the landlord
• completing a Land and Buildings Transaction (LBTT) Return
• registering your lease documents in the Books of Council and Session

Whether you are a landlord looking to make the most of your commercial property investment, or a business looking for advice on their tenancy agreement, Watermans are on hand to help you to navigate your transaction.

Ending a lease

Our legal service when ending a lease

If you wish to exit a lease then there are certain procedures you must follow. For example, there may be a break option within the lease which allows you to end the lease before the expiry date. The lease will state how this must be achieved. It is likely that you will be required to serve a notice to the landlord before a certain date to confirm your intention to exit the lease.

At Watermans, we can draw up and serve the notice on your behalf. Failure to serve the notice correctly may result in the lease continuing beyond the break option date.

A Renunciation of Lease is a formal document signed by both parties to confirm that the lease is at an end. From the tenant’s point of view, a renunciation is an extremely important document as it frees the tenant from any further obligations within the lease. At Watermans, our expert legal team are here to help to make this process as easy and efficient as possible.

What next?

How do I get started with leasing a commercial property?

If you are looking to lease a commercial property, or require a legal service as a tenant, contact Watermans today.

Our friendly and experienced conveyancing team will answer any questions you may have and discuss the commercial property leasing process from start to finish. We take the time to get to know you and understand your needs and expectations. We offer advice every step of the way, working closely with you to secure your desired outcome.

In a complex property market, with so many variables to consider, we understand the need to be able to make informed decisions around your commercial property transaction. At Watermans, we offer a free, no-obligation valuation, advising you on the potential value of your property, as well as current market conditions. Together with our considered advice and approach on how to successfully market your property, we can help you. We take the hassle out of the legal stuff.

If you are looking to lease your commercial property, or require legal advice in relation to the lease of a property, contact Watermans today.