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As a leading UK law firm, Roythornes Solicitors is ideally placed to offer both landlords and tenants expert help with commercial leases.
Our commercial lease lawyers can help you with a wide range of areas concerning your commercial lease requirements, including specialised help with:
- Commercial lease disputes
- Commercial lease agreements
- Licences to Alter
- End of Tenancy advice
Get in touch with our commercial lease solicitors
To speak to our team of specialist commercial lease solicitors, please contact our team in Alconbury, Birmingham, Nottingham, Peterborough or Spalding.
Our expertise with commercial leases
Leases on commercial property
When looking to negotiate a lease on commercial property, whether as a Landlord or as a business Tenant, it is important to seek the advice of an experienced commercial lease solicitor. This is to ensure you are fully aware of your rights and responsibilities in respect of entering into the lease agreement.
There are many factors to consider, such as the type of property (office leases, industrial units and retail units amongst others) and location. In addition to this, special consideration and thought must be given to the specific terms of the lease, including renewals, break clauses/break conditions, together with repair obligations and tenure.
At Roythornes Solicitors, we realise that entering into a commercial lease agreement, is an important step in your business ambitions. Our dedicated team of commercial lease solicitors is here to help you every step of the way.
Commercial lease disputes
It’s an unfortunate fact of business life that disputes do sometimes occur. Roythornes Solicitors is ready to provide you with expert advice should the need arise. Our priority, whether you are a Landlord or a Tenant, is to resolve disputes swiftly and efficiently, always putting your interests first.
Common disputes, amongst others, in relation to commercial leases include:
- Breach of lease/forfeiture
- Repair issues and dilapidations
- Rent review
- Subletting or assignment
No matter the nature and complexity of your commercial lease dispute, Roythornes Solicitors can help you every step of the way.
How commercial lease agreements work
What are the main costs involved in leasing a commercial property?
There are a wide range of costs to be mindful of when entering into a commercial lease agreement. The nature and extent of the costs do, of course, vary depending on the lease, the property, and other factors, which we can advise you on in detail.
Costs to consider include:
- Deposit – the amount can vary greatly, but is often 6 to 12 months of annual rent (and can be subject to VAT) with deductions for costs and expenses if the Tenant defauts.
- Legal fees – because a commercial lease agreement is a legally binding document, it is important to seek professional legal advice when drafting and agreeing a lease. As a Tenant, you may also be liable for the Landlord’s legal costs in setting things up.
- Surveyor and letting agent fees – costs for surveying the property, as well as the fees for a letting agent handling a commercial lease, will often be payable.
- Insurance costs – which will vary depending on factors such as the type of business, nature of the property and the area.
- Stamp Duty Land Tax – depending on the value of the property, Stamp Duty Land Tax can also be payable, even though the property is not being purchased.
This is a brief guide to some of the main costs that can be incurred when entering into a commercial lease agreement – but please be aware that costs can vary widely.
How long does a commercial lease take to complete?
The starting point for a commercial lease is known as ‘Heads of Terms’. These refer, in general terms, to the intentions and key aspects to be included in a lease. There are a number of additional steps that are involved in setting up a commercial lease agreement, and timescales do vary depending on the circumstances. However, most commercial lease agreements reach completion in around six to eight weeks.
What are the benefits of using a solicitor for a commercial lease?
As with so many things involving business transactions and agreements, having the best possible legal advice and representation throughout the commercial lease agreement process is paramount. Roythornes Solicitors can help you with every aspect of the process from start to finish, including (but not limited to):
- Reviewing all necessary paperwork and documents
- Dealing with all correspondence and any issues raised by the other party’s legal representatives
- Title due diligence
- Completion and Stamp Duty Land Tax returns to HMRC
Can a Landlord refuse to renew a commercial lease?
Under the Landlord and Tenant Act 1954, it is only possible for a Landlord to refuse to renew a commercial lease under a very specific number of circumstances.
Some of the circumstances are where the tenant:
- Breaches the repairing covenant
- Persistently delays paying rent
- Breaches other obligations
- Is a sub-tenant and the landlord requires possession to let or dispose of the whole property
Or where the landlord:
- Has offered suitable alternative accommodation
- Intends to demolish, develop or reconstruct the premises
- Plans to occupy the premises themselves
These ‘grounds’ are legally defined circumstances, and Roythornes Solicitors can provide detailed advice on these as appropriate.
Can a commercial lease be terminated early?
There are ways in which a Landlord or a Tenant is able to end a commercial lease. However, other than by virtue of a break clause included in a lease agreement, the vast majority of commercial leases will run until the end, in what is known in legal terms as ‘effluxion of time’.
There are specific processes which must be followed by either party in order to terminate an agreement early:
- Use of a break clause
- Surrender by a Tenant
- Forfeiture by a Landlord
Roythornes Solicitors can advise in detail on your options should you wish to end a commercial lease early.
How much does it cost to draft or review a commercial lease?
The costs involved in drafting or reviewing a commercial lease agreement do, of course, depend on the complexity of the individual case concerned. We are happy to provide you a quote on a case-by-case basis, taking account of your individual needs and requirements.
Get in touch with our commercial lease solicitors
To speak to our team of specialist commercial lease solicitors, please contact our team in Alconbury, Birmingham, Nottingham, Peterborough or Spalding.
