Royal Institution of Chartered Surveyors’ Small Business Retail Lease

The Royal Institution of Chartered Surveyors (RICS), in conjunction with British Retail Consortium (BRC) has developed the ‘Small Business Retail Lease’. The lease has been developed to try and simplify the complex and timeconsuming procedures associated with the grant of leases of commercial premises.

The background to this initiative is several factors contributing to the decline of the traditional high street, which is often regarded as an expensive place for retailers to be. A suite of measures and incentives has been identified as necessary to attract business back to the high street. One of these measures is to address what is perceived to be the complex and time-consuming commercial property leasing process.