Our commercial property team deal with a range of matters connected with leases and always strive to meet and exceed the expectations of our clients. A core concern for many clients and businesses is to budget for costs from the outset. Therefore, we aim to identify deliverable and cost effective solutions from start to finish whilst working to a high standard.
There are several things to consider when negotiating a new lease and early advice can help identify these issues quickly. For example: -
- Is the tenant responsible for all repairs and decorations, or just for keeping the property in the same condition it is at the start of the lease?
- Who is responsible for particular costs in preparation of lease documents?
- Does either party require a break clause to allow for the possibility of early termination of the lease?
- Will a particular lease involve a Stamp Duty Land Tax charge?
It is always advisable to receive knowledgeable legal advice with all lease related matters as they are often complex. We ensure you fully understand your obligations under the lease and make you aware of any implications to avoid costly mistakes at a later date.
We have experience of dealing with leases in relation to all types of business premises including; offices, shops, industrial units, pubs, clubs and restaurants. We are more than happy to assist with all matters connected with leases.
Some key issues to consider in relation to leases are: -
- Term length: it is always worthwhile for both parties to a commercial lease to establish the best approach which suits the business and position. For example; as a tenant, do you see your business out growing a particular premises in a short time?
- Rent review: a key aspect of most commercial leases. This should never be overlooked by either party and legal advice should always be sought to ensure a fair rent. We can provide assistance on all legal matters connected with rent and rent reviews, particularly if you feel the rent review mechanism is unfair.
- Break clauses: i.e. whether either party is entitled to terminate the lease early. Without this clause, most tenants often find themselves ‘stuck’ with a lease they no longer require. We can advise on all matters connected with break clauses and whether you have the right to end the lease and if so, how this should be done.
- Repairs, alterations and improvements: most landlords often wish to keep total control over the structure of the building and from a landlords perspective, a carefully drafted lease should reflect this whilst emphasising the tenant is liable for repairs which can range from full external and internal repairs to contributing towards the landlord’s repair costs.
- Assignment and sub-letting: most tenants seek the freedom to assign and sub-let as they please. However, landlords often seek to restrict this freedom (including requiring guarantees from outgoing tenants in the form of authorised guarantee agreements) and as a result, lease provisions often become overly complicated and difficult to understand when trying to determine if the lease can be assigned or sub-let. We can assist with all types of assignments and sub-lets.
- Forfeiture: Where necessary, we can assist with the repossession of a commercial property, including terminating the lease and handing control back to the landlord. We can advise you on correct procedures and seek to ensure that the lease is forfeited through peaceful entry of the premises, changing the locks and correctly displaying the notices of forfeiture or through Court proceedings if necessary.
If you would like to discuss a potential matter or would like any further information then please contact one of our team using the details shown on this page.