17 August 2016
The legal loopholes of commercialisation
Commercialisation is about obtaining maximum ancillary income for retail landlords/owners of a shopping centre, outside the usual tenant rental income. It includes income generated from advertising boards, kiosks, merchandise stalls, promotional space, car valeting, vending machines, etc.
Commercialisation usually involves short-term arrangements, and in recent years in particular, there has been a broader spectrum of short-term occupiers and tenancies.
However, Andrew Brockett, commercial property associate at Shulmans LLP, warns that such short-term arrangements are not without legal risks, liabilities and costs. Andrew explains more in an article published in the August edition of Shopping Centre.
Together with property litigation partner Helen Hill, Andrew has, for the past two years, presented a full morning seminar on the legal aspects and implications of commercialisation in shopping centres at the International Council of Shopping Centers (ICSC)’s European Retail Property School.
Commercialisation is a booming area; in order to fully seize the opportunities available and reap the benefits, the key is not only understanding the potential risks and issues but also making sure to have a clear commercialisation strategy in place. For any further information and advice, please contact Andrew on 0113 288 2855 or at email@example.com.