Service Charge Apportionment: 20.82%

Insurance Apportionment: 20.82%

Lease Agreement: Offered on a 10 year lease with a 5 year break clause

Business Rates: 1st April 2023 to Present - £36,500 rateable value

Legal Costs: Each party will be responsible for their own legal costs incurred in the transaction.

All Charges are exclusive of VAT at the applicable rate

Further Information on Charges: 

What is the Service Charge?

Many commercial leases will refer to Service Charges. These are costs incurred by the Landlord for running and maintaining shared parts of the building or estate, which the landlord can charge back to tenants.

Tenants will be responsible for all the Service Charges as outlined in their lease so it definitely will pay to make sure that you understand what you are responsible for so as to avoid a financial surprise in the future.

Service Charges can include:

• Maintenance and repairs to shared areas, such as common stairwells and corridors. Tenants should note that this might also extend to areas outside the building, such as roofing and drains.

• Building insurance.

• Management charges to cover the fees of the landlord’s agents in connection with running the property or estate.

Notes:

• Commercial VAT is charged at 20% (as opposed to the domestic rate which is charged at 5%)

• Service charges are reviewed annually

• Rent will be charged quarterly in advance*, and invoices will be sent on the 1st of each month (or the last working day of the month if the 1st falls on a weekend). Any issues with invoices should be raised at the earliest time possible to Mollie either via email or phone

• The propertys location is shown on the plan within these particulars

*Our quarter dates are as below; 

24th December

24th March 

24th June

24th September 

Should occupation of the premises fall outside of these dates a pro rata invoice up to the start of the nearest quarter will be issued.