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New Leasing, (1. How to start the process, [1. S25 notice by Landlord], [2…
New Leasing
1. Parties and Property
2. Premises
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2. If not, what are you demising?
3. If it is a structural/external demise
[1. Are you just demising all of the Property]
[3. Are you being more specific]
[4. Are you including air space]
[5. Are you including ground below]
[2. Are you adding anything else?]
1. If it is an internal/non-structural demise, include
[6. Plaster and internal surfaces]
[9. Windows and window frames]
[3. Doors and door frames]
[5. Half any non-structural "party" walls]
[2. All non-structural walls in the Premises]
[7. Suspended ceilings]
[1. All conducting media in and exclusively serving the Premises]
[8. Tenant's fixtures]
[10. All "permitted works" in the Premises]
[4. Floors and ceilings]
2. If it is an internal/non-structural demise, exclude
[8. Windows and window frames]
[5. Doors and door frames]
[4. Half any non-structural "party" walls]
[2. All structural walls in the Premises]
[6. Suspended ceilings]
[1. All conducting media in and not exclusively serving the Premises]
[7. Tenant's fixtures]
[9. All "permitted works" in the Premises]
[3. Structural floors and ceilings]
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5. Rights reserved
[6. Support, shelter, light and air]
[5. Running of services]
[2. Common parts and conducting media]
[1. Adjoining premises]
[4. Plant equipment, scaffolding and crane oversail]
3. Process to enter
1. Notice period
[1. On 10 business days' notice]
[2. On 20 business days' notice]
[3. Specify other notice period in notes]
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3. Entry onto the premises
[1. To inspect generally]
[2. To inspect for breach]
[3. To place marketing on/disposal notices on premises]
[4. To allow perspective purchases to view premises]
5. To allow perspective tenants to view the premises when lease ends
[1. Allowed unless genuine steps are underway to renew the lease]
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4. Rights granted
1. Access
3. Who has the rights
[4. Tenant staff]
[5. Tenant's visitors]
[1. Cyclists]
[2. Motor vehicle drivers]
[3. Other transport drivers]
1. What areas are the rights over?
[1. Building]
[2. Common parts]
[3. Estate]
[6. Specify anything else in notes]
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2. Are they exclusive or common rights?
[2. In common with others]
[1. Exclusive/just one tenant can exercises]
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3. Parking/storage
[6. Store rooms etc.]
[3. Motor vehicle parking]
[1. Cycle parking]
[4. Parking for other transportation devices]
[5. Drying rooms]
[2. Motor bike parking]
[7. Scooters]
6. Servicing the Premises
[3. Is there an hours of use control]
[1. Does the Tenant have exclusive servicing space]
[2. Is the servicing space shared?]
[4. Is it uncontrolled use]
4. Refuse/recycling
[1. Landlord to provide]
[2. Tenant to provide]
[3. Specify customised arrangements in the notes]
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7. Signage
[2. If Tenant is multi-property, National/International branding?]
[1. Pre-approved signage]
[3. National/International branding anyway]
[4. Anything with reasonable consent]
[5. Uncontrolled]
[6. Specify customised arrangements in the notes]
2. Common Parts
[1. Over all common parts]
[2. Specify if only part of the common parts, in the notes]
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2. Financial
4. Rent review
1. Review to market rent
3. Assumptions
[2. Premises are fit for occupation and use]
[3. Destruction or damage has been reinstated]
[5. Premises lawfully usable for permitted use]
[6. Specify other in notes]
1. Willing tenant has received inducements
[1. Rent frees for fit-out]
[2. Cash contribution for fit-out]
[3. Specify "off-market" inducements in notes]
4. Compliance with lease covenants
[1. By the Landlord]
[2. By the Tenant]
[3. All covenants complied with]
[5. Specify anything else e.g. material compliance in notes]
[6. Specify other assumptions in notes]
4. Disregards
1. Non-works disregards
[4. Because Tenant has other space in the building]
[5. Because Tenant has other space nearby]
[3. Tenant's occupation]
[2. Tenant's goodwill]
[1. Tenant's fixtures]
2. Works disregards
[1. Carried out with Landlord's consent if required]
[2. Exclude works paid for by the Landlord]
[3. Tenant's predecessors' fit-out works]
[4. Temporary works being carried out nearby/next door]
[5. Tenant's alterations which have reduced the rental value]
[6. Tenant's initial fit-out works]
1. Hypothetical lease definition
[1. Assumed length of term]
[2. No premium payable by the willing Tenant]
[3. Same rent review frequency as in the Lease]
[4. Vacant Possession]
[6. Willing Landlord willing Tenant]
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2. Hypothetical lease exclusions
[1. Main Rent]
[2. Break clauses]
[3. Extra concessions received on lease grant]
[4. Specify other in notes]
6. Process for the review
[1. Arbitrator or Expert]
[4. Rent review memorandum]
[5. Time not of the essence]
2. How often are the rent reviews
[2. Every 5 years]
[1. Every 3 years]
[3. Every year]
[4. Specify other frequency in notes]
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5. Best or reasonable etc. rent obtainable
[1. Best rent]
[2. Best rent reasonably]
[3. Market rent]
[4. Market rent reasonably]
7. Upwards/downwards or something else
[1. Upwards only]
[2. Upwards only from the starting rent]
[3. Capped]
[4. Collared]
[5. Upwards and downwards]
[6. Specify anything else in notes]
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Fixed/stepped increases
[1. Pre-agreed figures in a schedule]
[2. Pre-agreed figures using a calculation]
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5. Interest
1. Rate of interest
[1. Base rate]
[2. Base rate plus 1%]
[3. Base rate plus 2%]
[4. Base rate plus 4%]
[5. Base rate plus 5%]
[6. Specify other rate in notes]
2. From when is it payable on rent
[1. From the due date]
[2. Or specify number of days after due date]
[3. From demand]
[4. Or specify number of days after demand]
3. From when is it payable on other sums
[1. From when demanded]
[2. Specify number of days from when demanded]
[3. From when incurred]
1. Rent
1. Rent level
[1. Specify starting level in notes]
[2. Specify any initially reduced rate in notes]
[3. Specify other rental figure in notes]
2. Rent free
1. Is it a simple start date
[1. Starts after (specify weeks/months in notes]
[2. Starts on (specify calendar date in notes]
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3. Deductions from rent
1. No allowable deductions
[1. No legal deductions]
[2. No equitable deductions]
[3. No set-off]
[4. No counter-claims]
2. Allowable deductions
[1. Any deductions required by law]
[2. Specify any other allowable deductions in notes]
4. When is the rest paid
[1. Quarterly in advance]
[2. Monthly in advance]
[3. Specify other frequency in the notes]
3. Security for the rent
1. Type of security
1. Guarantor
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2. Preserving the Guarantor's liability
[1. If the Tenant is initially incapable]
[2. If the Tenant restructures itself]
[3. If you fail to enforce the lease covenant]
[5. If there is a lease variation]
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2. Rent deposit
[4. Is it Tenant money]
[3. Is it Landlord money]
[6. Who gets the interest]
[5. Is it plus VAT]
[1. Is it for rent only]
[2. Is it for other sums]
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2. When can it drawn upon
[2. If Tenant does not pay rent on time]
[1. Before Tenant has had a chance to pay]
[3. On any other breach]
2. Inducements
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1. Rent free
1. Is it a simple start date
[1. Specify how many weeks/months in notes]
[2. Specify calendar date when it starts in notes]
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2. Other financial inducements
[1. Fit-out contribution]
[2. Pure cash inducement payment]
[3. Specify anything else in notes]
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7. Turnover rent
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2. From where does it originate
[1. Generated and fulfilled at the store]
[2. Generated but not fulfilled at the store]
[3. Not generated but fulfilled at the store]
[4. Do you want to capture "showrooming"]
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6. Turnover process
1. Process for establishing the on account turnover
[1. Tenant to check]
[2. Landlord to check]
[3. Disputes]
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4. Tenant Covenants
1. Repair and decoration
1. Repair
2. What standard is it to be repaired to
[3. Good repair]
[6. Renewing component parts]
[2. Good repair and condition]
[4. Good condition]
[1. Good and substantial repair]
[5. Clean and tidy]
[7. Replace/rebuild the whole]
1. What is being repaired
[3. Windows/glass]
[5. Door/door frames]
[6. Schedule of condition]
[7. Exclude insured damage]
[1. Carpets/floor coverings]
[8. Exclude uninsured damage]
[2. Tenant's fixtures]
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2. Decoration
1. Decoration frequency
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2. In the last "X months" of the term
[1. In the last 12 months of the term]
[2. In the last 6 months of the term]
[3. But not if the Tenant has decorated in the previous 5 years]
[4. Not if the Tenant has decorated in the previous 3 years]
[5. Specify any modifications in the notes]
Decoration standard
[Normal business of the Tenant]
[Good quality materials]
[Do you want to specify how it is done?]
[With the reasonable consent of the Landlord]
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3. User/uses
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5. Day to day management
[1. Comply with rules and regulations]
[2. Give the Landlord contact information and details]
[3. Comply with good neighbour provisions]
[4. Specify anything else in notes]
3. Must it be used in a particular way?
[1. Is branding controlled]
[2. Is signage controlled]
[3. Do externally visible areas windows need to be controlled]
[4. Must the space be kept appropriately lit]
[5. Must the space always be occupied]
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6. Costs, consents, regulations and indemnities
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2. Costs
[3. Reasonable and proper costs]
[1. Reasonable costs]
[6. Internal costs]
[7. "Out of pocket"/incurred costs]
[4. Reasonably and properly incurred]
[2. Reasonably incurred]
[5. Properly incurred]
3. Tenant indemnities
3. Indemnity limits
1. Limiting the loss
1. Type of loss
[1. All losses, costs, claims, damages, expenses and fees incurred]
2. Limiting that loss
[1. Reasonable in amount]
[2. Reasonably incurred]
[3. Reasonably foreseeable]
[4. Flow naturally from the breach]
[5. Not special loss/pure economic loss]
2. Cooperation in relation to the claim
[1. Give notice of claims]
[2. Provide information]
[3. Mitigate loss]
[4. Restrictions on naming parties in proceedings]
1. What is covered
[1. Breach of an obligation]
[2. General property liability]
[3. Just third party liability (MCL)]
4. How might it be incurred without breach
[4. caused by state and condition of the Property]
[2. caused by exercise of the Tenant's rights]
[1. caused by carrying out of any permitted works]
[3. caused by general property liability]
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5. Landlord Covenants
[3. Quiet enjoyment]
[2. Services]
[10. Scaffolding, hoardings and ladders]
[6. Headlease obligations]
[9. Changes in the estate/building]
[8. Designating how common areas can be used]
[7. Wayleaves]
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3. Term and forfeiture
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1. Length of term
[1. Is it 3 years]
[2. Is it 5 years]
[3. Is it 10 years]
[4. Is it 15 years]
[5. Is it 20 years]
[6. Specify other length in notes]
5. Forfeiture
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1. Breach of non-financial covenants
[1. Simple breach]
[2. Material breach]
[3. Persistent breach]
[4. Specify any other type of breach in notes]
3. Insolvency
[2. Tenant/guarantor is a company, LLP or partnership]
[4. Equivalent events in other jurisdictions]
1. Relevant for all tenants/guarantors
[1. Appointment of a receiver]
[2. Scheme/arrangement with creditors (Insolvency Act 1986)]
2. Relevant if tenant/guarantor is "corporate"
[1. Liquidation]
[3. Creditors' meeting under Insolvency Act 1986 Part I]
[4. Compromise or scheme of arrangement or restructuring (Companies Act 2006 Part 26/Part 26 A)]
[5. Moratorium under Insolvency Act 1986 Part A1]
[6. Administration]
[7. Striking off]
2. Winding up
[1. Actual winding up]
[2. Winding up petition if not dismissed or withdrawn (insert time period in notes)]
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8. Standard Clauses
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2. Administrative issues
[1. Apportionments]
[2. Disputes]
[4. Type of response to the notice]
[5. Consequences of not replying]
[6. Publicity and confidentiality]
[7.Is the agreement assignable.]
3. Serving notices
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2. How long before notices are responded to
[(a) 5 days]
[(b) 10 days]
[(c) 15 days]
[(d) 20 days]
[(e)] specify other length in the notes]
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3. Conveyancing issues
[1. No acquisition of easements and rights]
[3. Is the lease "ex-Act"]
[4. Exclude liability for former landlords]
[5. New tenancy for the purposes of the 1995 Act]
[6. Exclude statutory compensation]
2. Wayleaves
[1. Rights for the Tenant]
[2. Obligations on the Landlord]
[3. Protecting other space in the building]
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