Business Leases and Renewals

Nearly all businesses active in the United Kingdom occupy premises of one kind or another whether they be offices in a smart city centre block, a warehouse on a business park, a factory or a small studio. The possibilities are endless as are the terms of the leases under which such premises are held.

As a result of the varying terms and conditions negotiated between landlords and tenants of business premises, all leases are individual and are likely to differ considerably. It is important to ensure that a lease reflects the terms agreed between the parties at the outset and that it is drafted in a sympathetic way which is clear and unambiguous so as to avoid problems of interpretation at a later stage.

Service charges, rent reviews, value added tax, options to determine and many other aspects of the agreed terms are complex and a full and proper consideration of the drafting can save the parties time and money.

Business tenants have the right to renew certain leases pursuant to the Landlord and Tenant Act 1954 (as amended). There are time limits and prescribed notices and the process can seem daunting and complicated. Obtaining good legal advice at the outset can avoid problems and ensure the parties achieve the desired result.