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Q1 I run a small but fast-growing business in the fashion retail sector. However, I am worried about committing to a long-term commercial lease. What are my options?


This is a question many of our SME clients ask us and completely understandable, as the typical 10-year lease can be a huge commitment for a business owner – regardless of the company’s size or length of time the company has been operating. Plus it can have a huge impact on a business’s cashflow.


Remember your commercial premises are there to help you run your business effectively but without putting undue financial strain on the company. As your business is small, spending £££ on swanky offices with a long lease may not be the best option, even if the design is state of the art and the office space has impressive views.


How we work and where we work has changed over the past 10 years. If you are needing the footfall of the high street, you may be better suited to taking out a short-term lease for a pop-up shop (this can be anything from one day to one year) to test the waters before making the commitment of a longer-term lease of say two years or even of a five to 10-year lease. Typically, the liability of a short-term rental can be more limited than taking out a long-term lease. Plus you get the added benefit of being more flexible and being able to test multiple locations if necessary.


Equally what might be the right location or premises for current business requirements may not work in say five or 10 years’ time. If a short-term is not available, perhaps try to seek a right to break the lease early – maybe after three or five years.


Jeff Elphee jeff.elphee@ibblaw.co.uk ibblaw.co.uk


You mention your business is growing rapidly and it sounds like you have ambitious plans to continue to grow the business. If you are fairly certain of the mid to long-term future then taking out a longer lease or even buying a freehold property may be the better option, although buying a property freehold obviously has serious financial implications, so do consider whether the capital is better deployed in the business rather than tied up in property.


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askibb@ibblaw.co.uk Blandy & Blandy LLP named best firm in the South East


Leading Thames Valley law firm Blandy & Blandy was among the winners at the 2019 UK Probate Research Awards in London on February 7


On the night, which promised to single out “the best of the best”, Blandy & Blandy was named ‘Best Probate Law Firm – London/ South East’, with partner Caroline Casagranda joined by six colleagues from the firm’s probate, tax and trusts team to celebrate.


Home to one of the largest and most established private client teams in the


region, Blandy & Blandy is ranked as a top tier firm in both of the UK’s leading guides to law firms, Chambers UK and The Legal 500.


Casagranda said: “We are delighted to have been named as the leading law firm in London and the South East of England advising on probate related matters. Congratulations and thank you to our dedicated and hardworking team.


Blandy & Blandy LLP advises on latest Peach Place letting in Wokingham


Blandy & Blandy’s award-winning commercial property team has advised the owners of a new gin bar coming to Wokingham’s flagship Peach Place development this spring.


Describing the new venue, ‘The Leafy Elephant’, owner Stephen Scott said that that “the major development and investment by the Council presented a unique opportunity.”


He added: “Blandy & Blandy’s excellent commercial property team, particularly Katja and Rachel, addressed a complex suite of documentation with great skill and helped us negotiate a lease which we hope to enjoy for many years to come. I would not hesitate to recommend the firm to anyone looking for advice on commercial property matters.”


Blandy & Blandy was named ‘Property Law Firm of the Year’ at the 2017 Thames Valley Property Awards and as a finalist the 2018 year’s awards.


34 businessmag.co.uk THE BUSINESS MAGAZINE – MARCH/APRIL 2019


From left: Sophie Clark, Caroline Casagranda, Elizabeth Short, Graham Benwell


“We are committed to providing our clients with highly-effective legal advice, an understanding, helpful and supportive service and an excellent overall experience and believe that this award firmly reflects that.”


For more information visit: blandy.co.uk


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