Lease of whole: high street shop
A standard document for a lease of the whole of a building for use as a high street shop in England or Wales. This standard document assumes that the landlord will not retain any part of the building, and therefore, it does not contain any service charge provisions. It is structured to function as a full repairing and insuring lease (FRI lease) but provides the flexibility for the tenant's repair obligation to be qualified by reference to a schedule of condition. The landlord is responsible for insuring the building and this standard document includes optional provisions to address uninsured risks. Further optional clauses cover an upwards-only open market rent review, which can include a cap and collar, and a break clause. This versatile standard document can be adapted for use as a headlease, an underlease or a renewal lease and also incorporates prescribed clauses and optional provisions for a tenant's guarantor.
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