The state of the economy nationally has been described as 'challenging', but for specialist commercial property solicitor Lucy Ingram, she has seen a surge of activity on the local business scene around Frome and surrounding area.

'2020 has brought with it some huge difficulties,' says Lucy who is also Head of Commercial Property at solicitors Thatcher + Hallam LLP. 'However, as someone who is very closely involved in working with the local business community, two factors became immediately apparent.

'Praise has to be given to our many existing local firms who have worked tirelessly to ensure that by adapting and innovating, they are not only surviving, but indeed thriving during this pandemic,' says Lucy.

'The other piece of very encouraging and good news has been the influx of new instructions that I have received over the past few months. We have seen numerous new business start-ups, clients taking on new premises as well as existing tenancies being re-negotiated, which have in many circumstances served the longer terms interests of both landlords and tenants,' adds Lucy. 'These may well be challenging times but it is also clear that there are many people out there who are seeing this as a time of real and genuine opportunity.'

Whilst Lucy and her colleagues at Thatcher + Hallam are as keen as anyone to encourage new enterprises and entrepreneurs, she also offers a word of advice.

'Anyone going in to a new business or already in business and wanting to renegotiate terms, is to take legal advice right at the outset and to obtain financial and valuation advice before committing,' advises Lucy. 'There are definite bargains to be had out there but if tenants have already agreed Heads of Terms without coming to us first, then we will struggle to unravel a bad commercial deal. Tenants or buyers can of course instruct their own commercial property agents, or alternatively they are more than welcome to call us for an initial chat about key terms before they settle the deal.'

Details regarding Lucy Ingram and Thatcher + Hallam can be found HERE: the T+ H site