‘Christmas comes but once a year’ or so the saying goes. However, it seems to come earlier every year. Before we have even packed away our sunglasses, festive fare starts to creep on to the high street.
Over the last few years, ‘Pop Up’ style shops have become a common feature on most high streets, especially at Christmas. There are even firms specialising in this area. Christmas can create an opportunity for landlords with vacant, high street retail space. One of the main advantages for the landlord is when an empty rates bill looms. Having a new tenant, even in the short term, can also help showcase a vacant property and create new interest from prospective tenants.
So what should a landlord look out for when entering into a short term agreement? There is no ‘standard’ document available so landlords must be careful to use the most appropriate method of agreement. A lease may be seen as too costly and time consuming for a short term arrangement but does offer the greatest degree of protection for both landlord and tenant. A Licence to Occupy may be useful in the short term but should be avoided if the occupier is to be granted exclusive possession. A Tenancy at Will could be the best solution but this will vary from property to property and landlords should seek advice prior to any agreement.
Brown&Co have dealt with a number of Christmas lets in recent years and this year we have received more enquiries than ever before the Kings Lynn office has already agreed a 10 week letting on a vacant shop in the High Street next door to Costa Coffee.