We negotiate Rent Reviews for both landlords and tenants. At periodic points within a lease there will often be provision to review the rent and the process of reviewing rent is well established, but the particular circumstances of each lease and its review provisions can give rise to complex negotiations. We offer a comprehensive service to ensure agreement of a favourable rental settlement.
Occupiers of commercial property often do so by way of a ‘Business Tenancy’ that benefits from the protection of the Landlord & Tenant Act 1954 security of tenure provisions. This grants tenants the right to renew their lease.
Whether you are a landlord or tenant, it is prudent to consider your position well in advance of the lease expiry date, as there are various formal notices that can be served on the other party that can protect your position. What action should be taken depends on many factors including the market rent, the terms of a lease and particular negotiating positions. As a result tactical advice should be obtained to ensure the correct notices are served within appropriate timescales, in conjunction with your legal advisors. For leases that are ‘contracted out’ of the Landlord & Tenant Act 1954 more particular considerations are required.
Surrender & Re-Structuring
At times throughout a lease a tenant may wish to move out of premises, or wish to extend their lease to secure the property for the longer term to provide security for an investment. Similarly, a landlord may wish to obtain vacant possession. We can advise on surrendering a lease and/or the restructuring of it and negotiate a satisfactory solution, whether acting for landlords or tenants.
LEASE ADVISORY AND PROFESSIONAL SERVICES
Pearce & Co have been assisting Landlords and Tenants with advice on commercial property leases since 1951. Our Chartered Surveyors can assist with all matters relating to your commercial property lease as a result of substantial experience gained through property management whether you own or occupy retail, office or industrial premises. Commercial leases are complex areas of property law and in the list below we have outlined the most recognised areas of commercial leases, but there are often occasions where advice is required on more particular issues and we can assist.