Due diligence considerations (Tenants perspective) 1.
2.
Lessor consents required to: (a)
Assignment.
(b)
Alterations.
(c)
Signage.
(d)
(Change of trading name) - Riccarton
(e)
(Change of use)/extension of use.
Assignment (a)
Guarantees of directors and shareholders required.
(b)
Prohibition on assignment within certain periods eg 12/24 months from c.date - Ric N/lands
(c)
Landlord right of first refusal to take Lease back N/Lands.
(d)
Key money on assignment.
(e)
Some have rent reviews on assignment.
3.
Prior breaches by Lessee or non performance of obligations eg maintenance/redecoration any requisitions by Councils
4.
What alterations additions made that Landlord will/may require removed?
5.
What fixtures and fittings are owned by tenant (and chattels?)
6.
Evidence of rent reviews
7.
No noise/amplifiers restrictions in some Leases
8.
Active trading requirements
9.
Costs on docs to be completed.