New lease promises simple and transparent terms for retailers
Published: 25 November, 2009
Land Securities is offering retailers a new lease that sets out monthly rents and transparent terms. Clearlet, which will be rolled out across Land Securities’ retail portfolio, hopes to end feuds by abolishing premium charges on monthly rent payments.
Clive Ashcroft, head of legal services at Land Securities, said: “One of the big issues for them was the delay in responding to their requests to carry out renovations. We’ve now put in a ‘deemed consent’ clause meaning that if we don’t respond inside 15 working days, it counts as consent.”
Retailers including Argos and O2 have already signed up.
