A lease of an industrial unit or warehouse that forms part of a building on an estate.

The lease contains prescribed clauses and optional provisions if there is a tenant's guarantor.

The lease is a lease of part. The demise is an internal only demise. The tenant repairs the demise. The lease can be used as a full repairing and insuring lease (FRI lease). Alternatively, the tenant's repair obligation can be qualified by reference to a schedule of condition.

The landlord insures the common parts of the estate and the building of which the let property forms part. The lease contains optional provisions to deal with uninsured risks.

The landlord is responsible for the repair and maintenance of the common parts of the estate and its retained parts of the building of which the let property forms part. The landlord recovers its costs through a service charge. The lease contains optional provisions if the tenant's service charge payments are to be subject to a service charge cap (subject to review at the start of each service charge year in line with the Retail Prices Index (RPI)).

The lease contains optional provisions for an upwards only open market rent review and for an optional cap and collar on the reviewed rent.

The lease also contains optional wording for a break clause.

The lease can be used as a headlease or as an underlease where the landlord has a leasehold interest in the whole estate. It also contains optional wording to enable it to be used as a renewal lease.