Property searches and enquiries
It is important that you obtain as much information as possible about the property before you commit to the Lease as the information you uncover may affect your decision on how you proceed. Remember that you will be locating your business at the premises and do not want any nasty surprises once you have started trading.
The searches to consider are as follows:
- Local Authority Search
- Water and Drainage Search
- Coal Mining Search
- Environmental Search
- Chancel Check
You should also raise standard commercial property enquiries of the Landlord. CPSE1 will enable you to glean further information about aspects as diverse as planning restrictions, fire safety, existing occupation and VAT on rents whilst replies to CPSE 3 will give further information as regards the proposed insurance, service charge and/or management of the property.
If you are taking an assignment of an existing lease CPSE 4 can be used to obtain information as regards the history of rent reviews, the existence of alterations and improvements and details of any rent arrears or breach of covenant.