This draft lease is an internal demise of a retail unit forming part of a shopping parade or centre. It imposes on the tenant a full repairing liability in relation to the demised parts of the centre, requiring payment of a due proportion of the insurance costs relating to the centre, and imposes a service charge. The draft lease includes provisions for a guarantee of the tenant's obligations, and an open market rent review clause. Where appropriate, provisions are included to deal with energy efficiency regulations.
The lease is drafted on the assumption that the landlord's solicitor will have been responsible for the drafting of the lease. It is therefore intended to be biased in favour of the landlord, although not unreasonably so.
The lease includes the Land Registry prescribed clauses.
For drafting notes on the main body of Property PSL leases, and for drafting notes relating to the alienation provisions, the guarantee provisions, the insurance clauses, and the rent review clauses included in all Property PSL leases, see the Property PSL lease of whole (office).
For detailed drafting notes on the operation of service charge provisions in Property PSL leases, see the Property PSL lease of part (office).
All drafting notes should be read before using this lease.