Not to be mistaken as the same as a commercial lease, a license offers more flexibility; it is permission for a licensee to do something on a licensor’s property.
Licences give the occupier the right to use a space, but not exclusively, and may mean they share the property with the owner or a third party. This can be useful, for instance, for concessions in retail spaces or office space available for only a short length of time.
A popular option for start-up and small businesses, licenses are often cheaper for occupiers. Likewise, they make it easier for landlords to regain vacant possession of properties should they need to.
Want to discuss your business needs and if a license is right for you, our team of commercial property solicitors are available offer advice and support.