Lease of shop in parade with flat over
This is a comprehensive lease for letting a shop or other retail unit with a flat or maisonette above for the tenant to live. The shop could be used for any purpose for example: sale of goods, restaurant, cafe or sale of services (e.g. estate agency or PC repair). Features: service charge provision; guarantor; break provision; rent review options; option for assignment; sub-letting not allowed; draft agreement for security deposit.
- Solicitor approved
- Plain English makes editing easy
- Guidance notes included
- Money back guarantee
About this lease
This lease is for a shop with a flat over. The shop will usually be in a parade.
The tenant could use the commercial space for any purpose including:
- conventional retail of goods
- restaurant or cafe
- provision of services such as PC repair or estate agency
The shop may or may not have additional rooms used by the tenant for other business purposes, such as offices or storage.
If the shop is not part of a parade, the relevant paragraphs can be deleted easily and obviously.
The lease has been drawn to prefer the interest of the landlord rather than the tenant.
Similar commercial lease agreements
We offer similar leases for shops where the tenant does not live at the property.
Use Lock up shop lease agreement if the shop does not share services or facilities with other neighbouring shops owned by the same landlord.
Plain English is used throughout except where it is necessary to use legal terms common in this field of law.
The key features of this lease template can be summarised as:
- standard guarantor
- tenant also lives at the property
- options for transfer or assignment to another party
- sub-letting forbidden
- option to include a break clause for premature termination by the tenant
- a choice of options for rent reviews
The law relating to this lease
Commercial leases differ significantly from residential leases. Residential leases are highly regulated. In contrast, commercial leases in Canada are governed chiefly by common law and are very loosely regulated. The rights and obligations of the landlord and tenant are mainly a matter of contract between the parties.
This lease agreement is comprehensive, providing alternative choices for important decisions.
The contents include 32 provisions and 3 schedules covering:
- rent: period, amount, other payments, interest on overdue rent, periodic review
- condition and repair
- tenant's positive obligations
- tenant's obligations for residential space
- service charge recovery
- restrictions on tenant: prohibited activities on the property
- signs and advertisements
- assignment of the lease
- indemnities by the tenant
- access for landlord
- termination: default notice by landlord; provision for premature termination (a break clause)
Schedule 1: the service charge
Schedule 2: rights reserved
Schedule 3: draft agreement for a security deposit
This document was written by a solicitor for Net Lawman. It complies with current Canadian law.
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