Commercial Lease

Purchasing or selling a commercial property can seem like a daunting task however the property team will help to make commercial property transactions hassle free.
Our commercial conveyancing services will guide you through the leasehold transaction process, assisting with all aspects of commercial property transactions. We have vast experience in acting for both landlords and tenants.

Lease Renewals – What we can offer

For Tenants

Whether you are a new tenant or an existing tenant whose lease is due to come to an end, it is imperative that you have a knowledgeable legal expert on hand who is able to provide you with accurate advice.

We can advise you on the implications of the if the lease is up for renewal (rather than a periodic review). In many cases the mechanism for what happens next will be governed by the Landlord and Tenant Act 1954 (unless specifically excluded). This act gives Tenants the right to a new lease on similar terms to the existing lease with an updated rent.

For Landlords

We can assist you if you are a landlord with a property which is let and coming up for renewal of the lease and you have received papers from the tenants seeking a renewal

Leases for commercial property are often relatively complex and it is important that you fully understand the implications and obligations, in order to avoid costly mistakes. We have a wealth of experience in dealing with commercial lease renewals.

Key areas to consider when drafting a lease:

Length of term.
Assignment or sub-letting
The authorized use of the premises.
Rent, rent reviews and break clauses
Alterations
Formal notices.
Length Obligation to repairof term.
Improvements.
Forfeiture of Lease

Rent Reviews

Our Commercial Property Solicitors regularly act for clients in negotiating the lease terms to re-align them with tenant’s business needs and achieve some value benefit for landlords. For example, if a tenant knows they want to stay in occupation a little longer, the parties can add a further few years to the end of the term of the lease. This helps both parties and increases the investment value of the landlord’s property.
We can help you negotiate with your tenants and we can liaise with surveyors to accurately assess what rent can be achieved or what other terms can be negotiated.
If you are granting a new lease you may want to think about other ways to review the rent rather than the traditional open market review. For example, fixed stepped increases or increases linked to the retail prices Index

New lease

If you are granting a new lease you may want to think about other ways to review the rent rather than the traditional open market review. For example, fixed stepped increases or increases linked to the retail prices Index.Unfortunately, rent reviews of commercial property can often lead to disputes between landlords and tenants. Having the assistance of a specialist can help to reduce this risk and ensure you are protected in the event of a dispute occurring.

Rent Reviews for Landlords

In recent times short term leases have become much more prevalent. However where a commercial lease is granted for 10 years or more there will usually be an upward only rent review provision at intervals of 5 years. The rent is normally reviewed to the open market value that could be achieved based on a number of assumptions set out in the lease. If the parties cannot agree then the lease will normally provide for the matter to be settled by either arbitration or by the appointment of an independent expert to make the final decision

Rent reviews for the Tenants

If you are a tenant and your landlord suggests a new rent at rent review time, you should not just accept this without seeking proper advice. The landlord has to agree a new rent in accordance with the lease terms. Most leases will contain detailed provisions governing how a rent review should take place.It helps to speak to a professional commercial property solicitor to make sure that the review is being conducted property and to prepare for negotiations with your landlord.

Other areas - Our team act for clients who either want to borrow against the equity in their property for the first time or release further equity or refinance with either the same or a new lender. Whatever the client’s needs the team will go through all the legal aspect of the paperwork involved with the client and deal with the lenders requirements which in some cases are strict and cumbersome with the least amount of stress and inconvenience to the client and in a language the client understands.

Our Team

Our team frequently acts for Developers whether they be dealing with small or large scale developments in land acquisitions. Our team will ensure that there are no ransom strips, problems with covenants, or other similar legal issues which would cause our developer clients problems with mortgaging the property or subsequently selling it. Following acquisition, our team will work with the developer and their professional teams, in preparing documentation to separate the site into parcels ready for the plots to be sold off. At this stage, our team will takeover and deal with the sales of the individual plots.

Our Team have many years experience in dealing with commercial property matters so rest assured your matters will be in safe hands and your best interests are properly protected.