LettingCommercial letting

Commercial letting

Letting a shop, office or unit through us costs an £800 setup fee, then a fee of 10% to 15% of the first year's rent on the grant of the lease, negotiable and confirmed in writing before marketing, all including any VAT. We find the tenant, vet the covenant and agree the heads of terms; Trent Law Solicitors then drafts the lease from those terms and takes it to completion, quoting separately for the legal work, 10% less for our clients. One building, both halves of the job.

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Item	Amount
Setup fee	£800
Our fee, on the grant of the lease	10% to 15% of the first year's rent, negotiable
The lease itself	Trent Law Solicitors, on their own quote, 10% less for our clients
Lease transfers, assignments and surrenders	Trent Law Solicitors. No agency fee applies

The fee

Where in the range your fee falls depends on the premises, the likely rent and the letting's complexity, and it is fixed in writing before we start. The setup fee covers marketing particulars, listing and viewings, and is charged whether or not you proceed to a letting, which is why we say so here rather than in small print.

What the agency work involves

Marketing particulars and a realistic rent, evidenced from local lettings rather than optimism.

Listing to the commercial platforms and our register of local businesses and investors.

Accompanied viewings and negotiation of the offer.

Vetting the tenant's covenant

accounts, references and, where the covenant is thin, a guarantor or rent deposit proposed to protect you.

Heads of terms agreed in writing

rent, term, breaks, repair obligation, rent deposit and any incentives, so the solicitors begin with the deal settled rather than discovering it.

Where the lawyers take over

The lease itself is legal work and is priced by Trent Law Solicitors on its own quote. The same is true of assignments, transfers and surrenders of existing leases: those are solicitor instructions from the start, no agency fee arises, and you can go to Trent Law directly. What we bring to a lease grant is the half solicitors cannot do: a tenant found, a covenant vetted and terms worth drafting.

Questions we are asked

What does a commercial letting cost? +

An £800 setup fee, then 10% to 15% of the first year's rent on the grant of the lease, negotiable and fixed in writing before marketing. Trent Law Solicitors quotes separately for drafting the lease, 10% less for our clients. All our figures include any VAT.

I already have a tenant lined up. Do I need you? +

Possibly not, and we will say so. If the deal is agreed and only the lease is needed, go straight to Trent Law Solicitors. Where we earn our fee is finding the tenant, vetting the covenant and negotiating terms; if that is already done, you should not pay for it.

What is a rent deposit and should I ask for one? +

A sum the tenant lodges as security for the rent and covenants, held under a rent deposit deed. Where a tenant's accounts are thin or the business is young, we will usually propose one, or a personal guarantee, as a condition of the letting. It is easier to ask before the lease is granted than after.

Do you handle rent reviews or lease renewals? +

Lease renewals and formal rent review machinery are legal work, handled by Trent Law Solicitors. What we contribute is rental evidence from the local market, so a review is negotiated from facts.

Commercial letting

The fee

What the agency work involves

Where the lawyers take over

Questions we are asked

Related services

Start with a figure in writing, and a straight answer.