Business Retail Consortium (BRC) has started a small business lease totally free of cost in an effort to attract the attention of individual businesses to the high streets in the UK.
BRC has joined hands with the Royal Institute of Chartered Surveyors (RICS). The Small Business Retail lease has been created to make lengthy and difficult procedures connected with business properties and to provide individual businesses to have a chance to fill the empty high street space easily.
The renting out has been instigated by Nick Darby from the SNR Denton UK LLP Charitable Trust.
Director of Business and Regulation at British Retail Consortium Mr. Tom Ironside stated that the lease would assist flourishing retail outlets of the future to be able to occupy a position in Town Centres throughout the UK.
The high street he remarked was one of the most favoured institutions nevertheless it could be a difficult place to carry out trading what with the prices posing a great hurdle to all. He mentioned that trying to negotiate the complex and expensive procedure of availing the first lease for a business space was not an easy hurdle to cross and this is hat he hoped that the lease would clear.
It was shocking, he said, to note that over 11 percent of the premises in the Ton Centre was vacant. Over and above aiding retailers, Mr. Ironside stated that the new lease would make it faster and simpler to ensure that the vacant units are in use again. If not it would only obstruct them; turning out to be more like a hurdle on the performance of the whole place.
Associate Director, Professional Groups and Forum of RICS Mr. Paul Bagust stated that in making the leasing process easier for land owners and small business leases, they are hoping to assist small as well as medium sized businesses and offer a push to the high streets in the UK particularly during this period of economic hardships. They also hope that this would provide the country with overall productivity economically.
In addition, Mr. Paul Bagust stated that by providing terms that would be beneficial to both the landlord as well as the leasee, they were dealing the theory of the Code for Leasing Business Premises mentioned in the Portas Review as a vital utility in trying to tackle the decline in the high streets.
