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A commercial lease is a contract entered into by a landlord and tenant, under which the tenant occupies all or part of a commercial property for a determined timeframe, usually an agreed number of years, throughout which they make regular payments to the landlord.
Leases can take several forms, but in each case the lease sets out the rights and obligations of the landlord and tenant. It is essential therefore to ensure not only that the terms included are clearly understood, but are also workable and acceptable to both sides from the onset.
A Grant of Lease refers to an initial granting of a lease from a freehold owner to a tenant. This lease is known as a head-lease. Leases would last for a certain period of time, throughout which the tenant occupies the property, and on expiry of which the property reverts to the owner of the freehold.
If you need assistance with a Grant of Lease we can help.
Lease assignments occur when a tenant holding a lease finds somebody else to take over the lease for the remainder of the duration of the lease.
This is effectively the transfer of the lease to a new tenant. On expiry of the lease the property reverts to the Landlord.
If you need assistance with Lease Assignments we can help
If a tenant holding a head lease wishes to allocate the lease they hold to a third party for PART of the term, this can be done via a sub-lease.
Some leases may prevent or restrict subletting, so it is important to take advice if you are considering subletting your premises. Additionally if you are looking at entering into a sublease, we can assist with the negotiation of the terms of such leases to ensure you.
Disputes can often arise between freeholders and leaseholders over the terms of a lease. These disagreements can take many forms, but are normally concerning issues such as service charges, breaches of lease terms, consents for alterations to your property, rent reviews.
Whether you are a leaseholder or a landlord with issues with your leaseholders, our team can assist.
If you wish to renew or extend a commercial lease, you will need to come to an agreement with the freeholder. The majority of lease renewals run quite smoothly, however you will need a solicitor to handle the legal process for you and our team can help you with this.
There are certain situations where a landlord may refuse a request for a lease renewal. Wherever this happens, our team can assist.
Often it can be necessary and agreeable for a landlord and tenant to end a lease earlier than the originally defined lease term. This process is called lease surrender.
If you need assistance or advice with a lease surrender or implementing a break option, we can help
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