An increasing number of commercial landlords and tenants are looking to restructure their businesses, particularly where working from home and online shopping create new and different considerations.
Some of the familiar questions posed when considering a company restructuring are:
If commercial tenants approach their landlord without a proper understanding of their rights, obligations and liabilities, it could result in a costly mistake for a commercial tenant impacting any proposed restructure for the rest of their business.
Equally, landlords will be considering what is recoverable under the terms of any lease, particularly if a tenant is looking to restructure, and ensuring they receive adequate security from any proposed new tenant without a trading history.
An underlying this is the age-old question: Who will pay for this?
Given that a commercial property can be one of the largest repeat financial obligations a business can have, not approaching any restructuring with it in mind could be fatal to that process – particularly if any new entity wants to retain the same premises.
Bishop & Sewell have a team of expert commercial property solicitors, providing advice to many different sectors and therefore able not just to supply a service on the law, but toward your business interests too.