Commercial Property Lease Letter of Intent

[rachael]

I am looking to lease a shop unit and have been asked to submit a letter of intent to the landlord. I have never leased commercially before and therefore have little idea as to what the expected content of a letter of intent would be.

I have searched the internet and had little success.

If anyone could help me in any way or point me in the direction of somewhere that could, i would be very grateful.

Thank you

[Editor]

Commercial leases are very much about negotiation: the landlord wants the best deal he can get and the tenant likewise. What sort of deal is eventually arrived at will depend upon the bargaining strengths (market demand soundness of tenant etc) of the respective parties and to some extent their respective skill and knowledge in the bargaining process.
By asking for a letter of intent the landlord wants to see that you are serious about the deal and to set a starting point for negotiations. The main things he will want to know are: what rent you are willing to pay, length of lease you are willing to take on, rent review periods and break periods, proposed use of premises etc?
Don't over offer on these things and if it's a new business, make sure you have a break within 2 to 3 years.
If you are not confident on these things I suggest you get a good property solicitor to help you - you will need a solicitor's services when it comes to the lease anyway.