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Commercial leases | Leasing Office Space

Leasing Office Space

Whether you are a smaller business or a larger venture most businesses will face similar issues when renting office space in Jersey. All leases are complicated documents, potentially full of pitfalls, which an untrained eye may not pick up.

Head of Terms

Get some advice from a lawyer as to the points you should consider when negotiating with the Landlord regarding your lease.  You should be aiming to agree what is called the ‘head of terms’.  This document is not binding, but it allows the lawyers to ensure that the lease reflects what you have agreed:  the lawyers acting for the Landlord can draft the lease and the tenants lawyers can use this document to ensure that they have followed the agreed terms.

Here are a few issues you should consider when negotiating the lease.

Planning Consent – Use

You must always make sure that you are allowed to use the property as an office. The Jersey Planning department strictly regulate the use of all buildings in Jersey. It is not uncommon to discover tenants occupying property without appropriate use consent.

Service Charges

You need to consider service charges. This is a cost usually found in a commercial lease and allows the landlord to recoup additional costs from you.  In general terms Jersey leases will contain such a clause.  As such consideration should be given to limiting your exposure to these costs.

Repairs

You should be careful to consider what responsibilities you have in relation to repairs and decoration.  Never underestimate how much it may cost to maintaining and keeping your office space in good repair.  It is always good practice to request a schedule of condition at the outset so you can use this as a benchmark.

Works

You will need to consider what works are required to furnish the office. All leases will have considerations as to what you can and cannot do regarding works at the premises.  Generally Tenants will need permission to carry out works and this not only from the Landlord but also from Jersey planning and building control.  This will include partitioning.

While stating the obvious you need to ensure that you have permission to carry out the works you plan (at least in principle) before you enter into the lease.

Rent Free Periods

If your office requires a fitting out, this can be time-consuming and may prevent you from using the space notwithstanding having taking on the lease. As such you should be considering asking the landlord for a Rent free period.  You should encourage your potential landlord to work with you to make the business a success, so you can both benefit in the long term.

Right to assign

You should always ensure a right to assign the lease. That way, you know that you won’t have to find a way of keeping up with rental payments until the end of the lease for a Property you would rather be without.

Other

There are numerous other issues to consider but this overview should give you an idea of the points to look out for.   However please remember that legal advice at the outset could save you a lot of money and angst in the future.

How Parslows can help

Parslows commercial property team provide an exceptional service to all our clients, whether you are a first time buyer or some way up the property ladder.

Our conveyancers and property lawyers are focused on providing you with expert advice with a truly personal service.

We advise on all aspects of property law: whether it be advice on financing, off plan and building contracts or option agreements, landlord and tenant advice or regulatory advice we can assist.

Our clients are pleased with our service and fees, we are confident you will too.

For further information or a fixed fee for your conveyancing work please do not hesitate to email us at comprop@parslowsjersey.com  or call 630530;

 

The information and opinion expressed in this briefing does not purport to be definitive or comprehensive and are not intended to provide professional advice. For specific advice, please contact Parslows, We are not responsible for, and do not accept any responsibility or liability in connection with, the content of this document or any reliance upon it

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