Using Bare Land for Storage of Business Equipment
Most businesses need premises to operate from. Usually the premises include buildings, such as offices, a shop or an industrial unit, but sometimes a business needs an area of bare land to store items such as vehicles or machinery.
Our Industrial Leases and Licences folder contains a selection of leases and tenancies at will for industrial units and warehouses. We have now added a Licence and a Lease of Bare Land for Storage of Goods.
New Lease template
Our Lease of Bare Land for Storage of Goods can be used to let an area of bare land, such as a field or an area of hardstanding, for storage purposes. The Lease is designed to be used for a term of five years or less.
There are no rent review provisions and, as there are no buildings on the land, the Lease is shorter and simpler than our other templates as many of the provision found in a typical business lease (e.g. insurance, alterations) are not required.
New Licence template
The Licence for Storage of Goods on Bare Land is a simpler document than the Lease. It should be used where the arrangement is genuinely a Licence rather than a Lease, i.e. where the Licensee does not have exclusive possession of the land.
The Licence provides for payment of an all-inclusive Licence Fee and contains basic covenants by the Licensor and Licensee as to how the land is to be used, any services to be provided by the Licensor etc.
The contents of this Newsletter are for reference purposes only and do not constitute
legal advice. Independent legal advice should be sought in relation to any specific