Channel Islands: Stop before you set up shop
As Guernsey and Jersey emerge from the economic downturn there are a number of retail premises which have come back onto the market and have opened up fresh and exciting opportunities for both national outlets and local retailers alike. With an increasing number of premises on offer it is important that retailers consider their position fully before signing up to a new lease.
Often a retailer will view premises and decide on the store they wish to occupy before making any professional appointments. Negotiating the deal themselves can seem like a tempting, cheap and quick option to many retailers. However, it is important to be aware that, once they have agreed to take the premises on certain terms (which often involves signing up to a set of heads of terms) it will be harder to renegotiate the specific terms of their letting later on. We would therefore recommend that, prior to agreeing to take a lease of a property, a retailer appoints both a commercial property agent, who can provide advice on market conditions as well as the suitability and value of any potential premises, and a lawyer who can work with the agent to assist in the negotiation of the terms at the outset, rather than having to battle to renegotiate terms at the lease drafting stage…
If you are registered and logged in to the site, click on the link below to read the rest of the Mourant Ozannes briefing. If not, please register or sign in with your details below.
Sign in or Register to continue reading this article
It's quick, easy and free!
It takes just 5 minutes to register. Answer a few simple questions and once completed you’ll have instant access.Register now
Why register to The Lawyer
In-depth, expert analysis into the stories behind the headlines from our leading team of journalists.
Identify the major players and business opportunities within a particular region through our series of free, special reports.
Receive your pick of The Lawyer's daily and weekly email newsletters, tailored by practice area, region and job function.
More relevant to you
To continue providing the best analysis, insight and news across the legal market we are collecting some information about who you are, what you do and where you work to improve The Lawyer and make it more relevant to you.
News from Mourant Ozannes
News from The Lawyer
Briefings from Mourant Ozannes
From 1 January 2015 the qualifying period in respect of the right to claim unfair dismissal will change in Jersey for certain employees.
Limited partnerships are governed by the Limited Partnerships (Guernsey) Law, 1995, as amended.