Lease for Small Retail Businesses

SGF, in conjunction with the Scottish Retails Consortium, attended the launch in Scotland of the Royal Institute of Chartered Surveyors (RICS) Small Business Retail Lease.

RICS Scotland has launched a new small business retail lease aimed at new and independent retailers in order to stimulate the letting of vacant high street space.

This lease is has been drafted specifically for small-to-medium retail property in Scotland. It has been devised to simplify the often complex and time-consuming processes associated with commercial property leases.

It is written in plain English and provides flexible terms for a short term lease (of up to five years) with no rent review. The new, freely available contract will enable quicker occupation of retail premises, helping to support the independent retail sector and stimulate the Scottish high street.

The lease and the associated guidance for tenants and landlords are available here