tel: 020 7373 2662
e: enquiries@richardhenry.co.uk
If you are looking to Buy or Lease Commercial Property in London then Richard Henry & Co. can save you time and money.
Let Richard Henry & Co. advise and assist you in negotiating your Commercial Lease from a position of strength.
An early assessment is vital to ensure that the best negotiation strategy is prepared and capitalised on.
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LEASE RENEWALS
In an uncertain economy, the expiry of a business lease provides an opportunity to negotiate better terms or to relocate to more suitable premises.
If you do not wish to relocate your business, you will probably be able to renew your lease. Business tenancies in England and Wales are generally protected by the Landlord and Tenant Act 1954, Part II and amendments which provide security of tenure and the right to a new lease on the same terms as the old, except for rent which will be negotiated to open market value at the date of renewal. This also assumes that certain criteria for occupation have been met and that the landlords do not wish to occupy the premises either for their own business or redevelop them.
As shorter commercial leases are now common place, many tenancies have been contracted out of the Act, meaning that the grant of a new lease is not guaranteed. This does not mean that the landlord will be unwilling to grant a new lease, but all of the lease terms will negotiable and not just the rent.
As lease renewal negotiations have many features in common with rent negotiations, we again counsel an early assessment of your situation and professional representation to achieve the best possible settlement of negotiations.
If you would like to discuss an impending lease renewal, please telephone us on 020 7373 2662 or email us and we will be delighted to have a preliminary discussion without any initial obligation.