BRC to test effectiveness of new Lease Code

The British Retail Consortium (BRC) is to carry out a study to assess the take-up and impact of a new Government-backed Lease Code, which launched in March.

Designed to help businesses taking out lease agreements, the code will also be to provide an industry standard for commercial landlords.

Retailers, landlords, property agents and lawyers will be asked about their use of the code and its effectiveness, BRC head of property Paul Browne will announce at the Investment Property Forum tomorrow.

Browne said: 'This is not about bullying or shaming landlords into compliance, it is about getting a better feel for how broadly the Lease Code has been adopted. The Code has received strong support from the major landlords, but we need smaller landlords, as well as property agents and solicitors, to use it too. In order to do that we need to monitor the Code's impact and, if necessary, find new ways to promote take-up.'

The updated Code for Leasing Business Premises was launched on March 28 and included a number of radical changes. It comprises three documents to improve leasing practice - a step-by-step guide for tenants, a -landlords' code and a checklist for all parties to use during lease negotiations.