Terms of Business
Units are typically let on a minimum 3 year lease
Ingoing tenants are responsible for registering the lease with the land registry and any related fees.
Towndoor’s standard lease is regularly revised and updated in order to protect both our property and client’s best interests. Should a tenant require more bespoke terms, they will be liable for all legal costs incurred by the company.
Rental rates are reviewed every three years, any increases being in line with current market values.
The tenant is responsible for all business rates, applied by the local authority.
Electricity is charged for the number of units used plus a quaterly standing charge of £75 + VAT.
Water is charged for the number of units used plus a quarterly standing charge of £52 + VAT.
All tenants contribute to the estate property damage insurance; the contribution is determined by the site and size of unit.
Some units have sprinkler facilities; this service is charged based on square footage.
A service charge may be applied to include the general maintenance of the units and common parts of the Industrial Estates.
A rental deposit will be taken and then held as a bond throughout the tenancy to be returned once the term expires subject to the unit being returned in an acceptable condition.
No alterations to a building may be carried out without the express permission of the landlord.
All units are supplied with an electrical test & fire alarm certificate where applicable. The tenant will be billed for the maintenance and renewal of these items.
Sub leasing is strictly prohibited.
For an example of our standard lease terms and conditions please refer to the files below: