Commercial Rent Review and Lease Negotiation
Whether taking or granting a new Lease, or renewing an existing Lease, we can advise on the rent and most appropriate terms. We can also negotiate the optimum agreement for you.
The Grillo LLP’s commercial team extensive and detailed knowledge of the local commercial property market, makes us well placed to advise both Landlords and Tenants and to conduct negotiations on your behalf to secure a new Lease or renew an existing Lease on the best possible terms.
No two properties are alike, nor are the circumstances of the Landlord and Tenant. Therefore, each property needs a careful assessment to ensure the terms of the Lease meet the requirements.
If appropriate, we will prepare a Schedule Of Condition at the commencement to be attached to the Lease.
Once Heads of Terms have been agreed, we will work alongside your solicitor to ensure that the new Lease is drafted to reflect the agreed terms and particular details of the property. We can also prepare a Plan to attach to the Lease and for Land Registry.
Commercial Rent Reviews
We act for either Landlords or Tenants in rent reviews. Our extensive and up-to-date knowledge of the local commercial property market makes us particularly well-placed to advise our clients and support them in rent review negotiations.
The terms of the rent review clause in your Lease are always the starting point, as they will define how and when the rent review is to be conducted. We undertake a detailed assessment of the Lease terms and then advise on a strategy for the negotiations. This will factor in any specific restrictions unique to your Lease, such as and for example, break clauses, nature of business operation, length of the assumed unexpired term.
The Grillo LLP’s commercial team have extensive negotiation experience when it comes to commercial rent reviews. We can negotiate the rent and any variations in the terms on your behalf and can also make representations to an arbitrator or an independent expert, should negotiations prove unsuccessful.
There are often strict time limits to comply with, and failure to adhere to these could have serious implications. You should therefore obtain advice well in advance of the review date (preferably twelve months).
Termination of Leases within The 1954 Landlord and Tenant Act
We are often called to advise on Leases granted within the Landlord and Tenant Act 1954. Tenants with this type of Lease can be entitled by statute to a renewal Lease at the end of the original Lease. A Landlord can resist granting a new Lease, provided they can prove to a Court one of seven grounds for possession. In working for the Landlord or Tenant, the Grillo LLP team have considerable experience of:
- Reviewing the market rent of the property.
- Proposing adjustments in the provisional Lease going forward.
- Supporting the Landlord or the Tenant in the negotiation.
- Making a representation on behalf of the client, if negotiations fail to reach an agreement and parties refer the matter to Court. We have highly experienced Expert Witnesses within the team.
We have also successfully advised Tenants who want to leave a Lease or negotiate a more favourable one.
Can We Help?
If you would like to discuss an issue relating to a Commercial Lease or Commercial Rent Review, please get in touch with our friendly team of professionals on tel 01483 860600 or by emailing firstname.lastname@example.org
Regulated by RICS