The Model Commercial Lease steering committee (of which I am part) met yesterday. The MCL is quietly gathering momentum with major real estate firms steadily reviewing and committing to support it regularly. The MCL team have had lots of feedback with many really useful suggestions. Most of those will find their way into an updated version around Easter time.
Thorny issues remain. There is no real consensus on how you address uninsured risks. Everyone easily agrees the tenant shouldn’t end up as “default insurer”. Getting a one size fits all solution to that is less easy.
Watch out for the article in The Law Society Gazette in the next couple of weeks for more on the MCL.