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Pharmacists often operate their businesses from leasehold property within part of a building or health centre. In such instances, the extent of the rights granted in a lease can significantly impact on the ability of the tenant to use the pharmacy and successfully carry out its business.
The extent to which rights are required will depend in each case on the nature of the property and the building in which the property forms part, but set out below are some of the most common rights we would suggest considering for a lease of a pharmacy unit within a building, so that a pharmacy tenant can fully operate from the property.
We recommend investigating the rights required to operate the pharmacy business prior to heads of terms being agreed. The Code for Leasing Business Premises in England and Wales 2007 (the “Code”) aims to promote fairness in commercial leases and seeks to increase awareness of property issues – especially amongst small businesses – so that prospective tenants have the information necessary to negotiate the best deal available to them. The Code contains a model set of heads of terms which can be completed online and downloaded. Although this is not a substitute for professional advice, we would encourage prospective tenants to consider the model heads of terms, which contain a section on rights to be granted, so this fundamental aspect of any lease of part is not overlooked.
This article was published in Pharmacy Business, July 2015 and was written by Asfa Javed.
The above is a general overview and we recommend that independent legal advice is sought for your specific concerns. If you require further information in relation to the points raised in this article you should contact Asfa Javed who is a solicitor and member of the Pharmacy Transactions Real Estate Team at Charles Russell Speechlys LLP.