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08-02-2009, 06:36 PM
I have recently signed a lease on a retail shop to turn into a bar. The shop front (windows, frames and doors) are in very poor condition and to replace would cost me £9000.
I would like some advice before I speak to the landlord, are they likely to help out with any costs for the shop front or is it all my responsability.
Your help is much appreciated.
08-02-2009, 07:03 PM
Varies and depends on lease agreements
On some agreements you are not allowed to make even minor changes
Best to read the agreement and look for the section on "building fabric"
Personally, given the building is in a safe condition then any upgrade or improvement will be at your cost
However, you could argue with them that you are looking for 50% funding from them as you will be improving the quality and value of the property
Equally, if it is so poor, I'd look elsewhere
08-02-2009, 09:36 PM
My mum owns a lot of freehold commercial property that she leases out, so I have some knowledge on this.
The building has to be fit and safe etc, but cosmetic improvements arent the LL's responsibility. Most leases also prohibit any structural alterations, and 99% of leases require the LL's written consent.
Chances are the LL may be willing to go halves, I know my Mum would if her tenant offered to pay half towards something that increased her property value.
I wouldnt worry about the LL going bankrupt, thats quite unlikely if he owns freehold commercial property and even if he did you would have rights as a sitting tenant.
It should also be noted that it is a lot easier to evict a commercial tenant as opposed to a residential one. If you contravene any of the terms on your lease, your LL can initiate a 'forfeiture of lease' procedure and you'd be out within a month or two, regardless of what ingoing you have paid, so dont even withold your rent
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