Jeremy’s Jottings

If its too good to be true…… You are no doubt familiar with “if it’s too good to be true it probably is”. Earlier this year a client took a lease of retail accommodation. Despite being advised to the contrary, the client decided to take-up an offer of very competitively priced conveyancing that was too good to be true. Due to a change of circumstances the client now needs to assign the lease. However, this is drafted in such a way as to significantly limit the use of the property. The landlord would be within its rights to refuse the request for an assignment unless the use remains the same. Alternatively the landlord could hold the tenant to ransom for a change of use. Several weeks have been lost as a consequence and its inevitable more time will have to be spent to resolve the problem. To put this into context if the client had been prepared to spend an additional £150, possibly £200 this shouldn’t have happened. AND there’s more….. It’s come to light that when the client took the lease there were no pre-contract enquiries. The client is now trying to answer around 30 pages of questions quite a few of which there’s little prospect of being able to give an answer. The assignment hasn’t yet been completed. On this occasion it looks as though the client may be lucky. In this instance there’s no doubt that if it’s too good to be true it probably is. Whether a landlord or a tenant, a large or small business, looking to take occupation of your 100th or 1st business premises I wouldn’t expect you to know what you should consider, things you should look for, understand some of the legal jargon or to necessarily be aware of the long term liabilities you might be entering into. If you have doubts or concerns and feel that free no obligation advice may be beneficial by all means give me a call to arrange an appointment. Jeremy’s jottings do not constitute advice on any specific matter. Lawson Commercial recommends you seek professional advice before taking action. No liability can be accepted by us for any action taken or not taken as a result of the jottings.