Services

Lease Consultancy

Lease Renewals

A lease expiry requires careful consideration and planning for both the Landlord and Tenant. A lease expiry provides the Tenant with the opportunity to renegotiate, downsize, vacate in accordance with its occupational requirements while for the Landlord, a lease expiry provides asset management opportunities.

Commercial leases can be broadly split into two categories: protected, those that have security of tenure under the Landlord and Tenant Act 1954 and unprotected, those leases that are excluded from the security of tenure provisions.

Lease renewals can be a complex process particularly if the lease is protected, therefore seeking early advice is both prudent and highly recommended.

We are experienced in advising on protected and unprotected leases and can provide the necessary detailed advice regarding notices, timings, initial rental considerations, negotiations and preparing Heads of Terms and liaising with solicitors to completion.

Rent Reviews

Commercial leases, particularly if the lease term is 5 years or greater, will likely include a rent review clause. There are generally two types of reviews, market and indexed. A market rent review clause set out the valuation parameters by which the new rent will be determined, while the mechanism for indexed linked reviews is calculated by reference to the specific index in the lease, usually RPI or CPI.

Rent review negotiations can be challenging requiring specialist knowledge of the local market, lease terms and relevant case law. We are experienced in dealing with rent reviews, lease renewals, re-gears and other lease related issues including acting as independent experts.