Lease negotiations advice

[MrsI]

We are in the middle of negotiating a lease on our first retail unit.

We have agreed the heads of terms all bar one (an important one!) the responsibility for repair and insurance. We proposed internal repair and insurance only however the agent has replied saying the landlord wants full repair and insurance, although he will maintain the roller shutters to the front and rear of the property.

I'm considering agreeing to this on the agreement that we will have a schedule of condition prepared and any problems detected are either repaired or excluded from the lease.

However before agreeing I want the agent to confirm exactly what the lease defines as 'full'.
There is a flat on the first floor (also owned by the landlord) therefore I presume our responsibility will be limited to the walls, floor, ceilings etc of the ground floor and not anything to do with the first floor/roof. But of course we want to be sure of this before proceeding.

Is it reasonable to ask the agent to clarify exactly what the lease defines as full?

Also, I've had a quote of £400 for a schedule of condition of the ground floor (approx 60 sq m), does this sound about right?

Many thanks,
MrsI

 

[kelvin1950]

Stick to your guns. Tell the landlord that it's internal only or nothing. Be prepared to walk away.

 

[MrsI]

Thanks for your advice kelvin. I've actually spoken to the current tenant today who told me the LL currently maintains the building and pays the insurance. So obviously they are just trying it on with us!

 

[kelvin1950]

As all landlords do when negotiating a new lease. Ours did and our neighbouring shop (same LL) actually signed a FRI lease with him. We didn't!

 

[MrsI]

Well I've replied saying its internal only or we're out. Finding a suitable property is becoming much more of a headache than I thought it would be!

 

[harper101]

Well, life's like that Mrsl.
What's important is to make a wise decision about it.

 

[Stuart Bailey]

be careful with the lease because although you may agree to an internal repairing lease, there will be a clause requiring you to contribute to shared items or a specific service charge clause requiring you to contribute to the landlord's repairs of the building.

How long is the length of the lease you have agreed?

 

[MrsI]

The term we have agreed is 3 years with a break clause at 18 months.

Please can you advise the approx cost for a solicitor to prepare/check the lease?

Thanks,
MrsI