Small Business Retail Leases Launched

The Royal Institute of Chartered Surveyors (RICS), in collaboration with the British Retail Consortium (BRC), has launched a new type of lease to attract small businesses into vacant high street units. The RICS free small business retail lease has been developed to simply the commercial property lease process which has, in the past, been seen as complex and time-consuming – Both these issues have acted as a barrier to the the successful leasing of commercial property to independent retailers. The new "off-the-shelf" leases, authored and developed by Nick Darby of SNR Denton UK LLP, will allow retail premises to be occupied more rapidly than before. By speeding up the occupation of empty units, the new free contracts aim to attract independents back into the high street. Pau... »