How to renting a shop?

Granty2007

Hello All,

I am starting a retail business and after many calls to estate agents they all take it for granted that you know all the processes. I have heard a few terms “under discussion” & “gone to offer” (assume they have the literal) My question is, I am going to view a perfect premises on Friday that another company has made an offer to rent under the asking price so they has agreed to see me. If I like it do I engage a solicitor immediately, is there away to put it under offer immediately, and in general how long does the contract negotiation phase last…is there any pointers in key questions that I need to ask?? I really don’t want to seem like a novice so any help would be great…

EKRIUQ

Business leases can be very complex and there is terms you should know,

FRI-->A full repairing and insuring lease. A lease where the costs of all repairs and insurance are borne by the tenant notwithstanding that:The insurance costs would be recovered by an insurance rent and the costs of repairs to common parts would be recovered through a service charge.

Upwardly Rent Reviews 5 years

4 years 9 Months v 20 years

stamp duty on the lease

There is alot to know and avoid the pitfalls

Granty2007

Thanks for the Info - great start - will read up on as much as i can and engage a good solicitor