Store Closure? A financial audit can help you discover if you have any credits due to you!

Many believe that a store closure marks the end of potential financial recovery. But that is not always the case. Even when you are shutting down multiple stores, there are valuable opportunities to recover historic overpayments.

Whether you have terminated leases or are in the process of vacating premises, it is wise to review your historical transactions to make sure that you are not leaving behind any outstanding amounts owed to you. Moreover, it is crucial to recognise that you may still be legally entitled to recover any outstanding amounts even when a lease is terminated due to store closure.

Change to your Managing Agent Part 2/2 - What you need to be aware of

A change in managing agent can often cause confusion when managing a retail property lease. This is largely because you have absolutely no control over when (or how quickly) a change like this will happen; often it might be sprung upon you. These challenges are compounded when there are multiple changes to the managing agent over the lifetime of a lease. So, in this two-part series we look at what you need to be aware of and how you can manage your risks.

Breaking a lease agreement is a significant decision that tenants may face due to various reasons such as site relocation, financial constraints, or strategic imperatives.

Understanding the process is crucial to handle it effectively. This guide will explore the why, what, and how of breaking a lease. It will address the common reasons for breaking a lease, considerations tenants should keep in mind, and steps involved in the process. While each situation may be unique, this guide provides a general overview to help tenants navigate the process of breaking a lease.

As this is such a complex area we have broken this down into three blogs, which we will release over the next few weeks, each addressing one of these key areas:

• Why you would break a lease?

• What is contained within a lease and what that implies for the actions required to break it and finally

• What to do to ensure you make the break in the best possible way, protecting your business and your business relationships.

Every business has its own specific property needs and requirements, therefore nothing written here represents advice.