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lease renewal

The rights and responsibilities of landlords and tenants are extremely important at the expiry of a business lease or on the occasion of an option to determine that lease.  A clear understanding of the complex issues involved particularly a knowledge of the legislation, experience of the market and full awareness of the negotiating positions of both parties is vital.

In this regard baker commercial has the experience and expertise in dealing with these matters and most importantly in liaison with other advisers, particularly solicitors.  Please contact us for further information.

frequently asked questions

What happens when my lease expires?

Answer:         Many leases of business premises are ‘protected’ by the Landlord and Tenant Act 1954.  If you wish to renew your lease at the end of its term and the lease is protected  by the aforementioned Act you will have a general legal right to renew unless you have substantively breached the terms of that lease.

Under normal circumstances your landlord will serve the appropriate notices on you and upon receipt you should immediately instruct your solicitors to respond to the notices in the appropriate manner as set out under current legislation.  Once your position is protected you should then seek the professional advice of a chartered surveyor to negotiate the main heads of terms, particularly a new rent to accord with the size, type and location of your property together with the terms of the lease.  In this regard baker commercial has the experience and expertise to deal with such negotiations and to deal and liaise with your solicitors.