A lease of a high street shop that forms part of a building containing other lettable units.

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

The lease is a lease of part. The demise includes the shopfront and fascia but is otherwise 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 building. The lease contains optional provisions to deal with uninsured risks.

The landlord retains responsibility for the repair and maintenance of its retained parts of the building. The landlord recovers its costs through a service charge and the lease contains detailed service charge provisions. The lease also 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 building. It also contains optional wording to enable it to be used as a renewal lease.