Understanding Deeds of Variation in Commercial Leases

In this episode of 'That Retail Property Guy,' hosted by Gary Marshall, we take an in-depth look at Deeds of Variation - legal documents that allow modifications to existing commercial leases. Common reasons for these variations include adjusting rent review frequencies, allowing structural changes, removing break clauses, and modifying the actual demised space. He also discusses potential implications, such as tax liabilities and balance sheet variances, advising tenants to seek professional advice when considering lease modifications.

Tune in to gain valuable knowledge applicable to estate management, particularly from a retail tenant's perspective.

00:00 Introduction to Retail Property Management

00:29 Understanding Lease Contracts

02:17 Flexibility in Lease Agreements

03:28 Deeds of Variation Explained

05:25 Practical Examples of Lease Variations

11:01 Legal and Financial Implications

15:53 Conclusion and Final Thoughts

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