Lock up shop lease agreement
This is a lease for a self contained lock-up shop. It could be in a parade or detached. It does not require provision for service charge recovery. It may be pure retail or it may have offices or other business space attached. Features: guarantor; break provision; rent review options; option for assignment; sub-letting not allowed; draft agreement for security deposit.
- Solicitor approved
- Plain English makes editing easy
- Guidance notes included
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About this shop lease
This lease should be used to let a shop or retail unit that does not share services or facilities with neighbouring units owned by the same landlord. The shop itself may be part of a parade of other shops owned by other landlords, or it may be stand-alone.
The shop may or may not have additional space used by the tenant for other business purposes, such as offices or storage.
This is a professionally drawn, very comprehensive lease with massive legal protection for the landlord including a long menu of “do’s” and “don’ts”.
This lease is not a compromise between the interests of the parties. It prefers the landlord’s interest. We think that is the best start point. If you wish to make concessions to your tenant, that is fine, but we want you have those choices.
It includes service charge provisions to provide 100% recovery of service costs.
Similar commercial lease agreements
- If a restaurant, cafe or fast food outlet will be operated from the property, use Restaurant lease agreement. This lease contains specific clauses for commercial kitchens and food retail.
- If the shop being let is part of a parade owned by the same landlord, or uses shared facilities and services, use Business lease: shop in parade. This agreement contains service charge recovery provisions.
- If the property will be used as an office (rather than a shop), Self contained office lease agreement may be more appropriate.
Plain English is used throughout except where it is necessary to use legal terms common in this field of law.
The key features of this template can be summarised as:
- standard guarantor
- options for transfer or assignment to another party
- sub-letting forbidden
- option to include a break clause for premature termination by the tenant
- a choice of options for rent reviews
The law in this shop lease
Business lease law is regulated primarily by the Lease of Land Act 1969. If the term of this lease is longer than ten years it must be registered at the Deed Registry Office at:
This shop lease is comprehensive, providing alternative choices for important decisions.
The contents include 29 provisions and 2 schedules covering:
- rent: period, amount, other payments, interest on overdue rent, periodic review
- condition and repair
- tenant's positive obligations
- restrictions on tenant: prohibited activities on the property
- signs and advertisements
- assignment of the lease
- indemnities by the tenant
- security deposit
- access for landlord
- termination: default notice by landlord; provision for premature termination (a break clause)
- Schedule 1: rights reserved
- Schedule 2: draft agreement for a security deposit
This document was written by a solicitor for Net Lawman. It complies with current South Africa law.
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