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What should I consider when choosing a commercial property to rent in Hackney?

Consider factors such as location, accessibility (including public transport links and parking), the size and layout of the property, the condition of the building, and the surrounding area's suitability for your business. Research local demographics and foot traffic to assess potential customer base. Also, factor in business rates, service charges, and other associated costs.

What legal requirements should I be aware of when renting a commercial property in the UK?

Ensure the property has the necessary planning permissions for your intended business use. You'll also need to comply with fire safety regulations, health and safety laws, and disability access requirements. A commercial lease is a legally binding document, so it's advisable to seek legal advice before signing. Check for Energy Performance Certificates (EPCs) and ensure compliance with Minimum Energy Efficiency Standards (MEES).

What are common lease terms for commercial properties to rent?

Commercial leases typically range from 3 to 25 years, with break clauses often included allowing either the landlord or tenant to terminate the lease early under specific conditions. Understand the rent review process, which is usually upwards-only. Negotiate the terms carefully, including responsibilities for repairs and maintenance.

What should I check during a viewing of a commercial property?

Thoroughly inspect the property for any structural issues, damp, or disrepair. Check the condition of the electrics, plumbing, and heating systems. Ensure the property meets your business's specific requirements, such as adequate power supply, internet connectivity, and ventilation. Consider the security of the premises.

What are business rates and how do they affect the cost of renting a commercial property?

Business rates are a tax on non-domestic properties, such as shops and offices, used to fund local services. The amount payable is based on the property's rateable value, which is an estimate of its open market rental value. You can check the rateable value of a property on the Valuation Office Agency (VOA) website. Some small businesses may be eligible for business rates relief.