James McEwen is a senior solicitor based in our Durham and Darlington offices
Transcript:
Commercial property contracts
So, there’s always a requirement to tailor those documents to make them slightly more bespoke and more appropriate to particular circumstances that the client has outlined.
For example, one of the main things that tenant clients don’t always consider at the outset of a transaction is their exit strategy.
Usually, they’ll come to us and be quite excited about this proposal, the new business opportunity, and the new premises they are taking on. But what we have to have regard to is the “what ifs”. What if the client needs to move out of the premises? What options might be available to them? So, we have to think about things such as break clauses, how easily the property can be disposed of, if it’s a lease-holding property, and whether there are any particular restrictions that the landlord might have sought to have imposed in the lease that might prevent that.