You are not alone if you run a business and are concerned about the impact of competing businesses near you. You may feel that it is important your neighbouring business\u2019 activities are not in direct competition with yours as this could deter potential customers and harm your commercial success. In a shopping centre, those businesses all likely lease their commercial premises from the same commercial landlord as you. This article will explain if a commercial landlord can grant leases to your direct competitors.<\/p>\n\n\n\n
Your commercial lease agreement<\/a> will stipulate if your landlord can accept a competing store next to your business premises. A lease agreement is a legally binding contract between you and your landlord. This document contains the terms and conditions and both parties’ rights and obligations under the commercial lease. Once both parties sign, you are contractually entitled to sole occupancy of the commercial property as your business premises.\u00a0<\/p>\n\n\n\n A lease covenant<\/a> can prevent your landlord from accepting a competing store next to your commercial premises. A lease covenant is worth negotiating at the heads of terms<\/a> stage of your commercial lease and will state that:<\/p>\n\n\n\n As the tenant, you should ensure that such a lease covenant is in the lease agreement. If your commercial landlord accepts a competing store next to you, they are likely in breach of the lease agreement.\u00a0<\/p>\n\n\n\n\n\n Continue reading this article below the form\n <\/i>\n<\/a>\nLease Covenant<\/h2>\n\n\n\n
\n