The question about how your lease is renewed and what process is adopted to achieve this, depends on several factors.
One of the most important things you can do, however, is review your existing lease early on, to understand what your rights are exactly, as this will inform what process needs to be adopted at lease renewal.
In the UK, typically there are two types of lease renewal for commercial property: One which has a tenant’s right to renew the lease (subject to certain conditions); and the other which does not contain the automatic right for a tenant to renew the lease.
Your lease renewal will be subject to negotiations with your landlord, and we can conduct these discussions on your behalf to ensure the best possible terms.
Before starting the negotiation process, we will always provide you with some initial advice which will inform our approach.
Once suitable lease terms have been agreed, we will assist in drafting a document commonly known as “Heads of Terms”. This will allow your solicitor to be instructed to draft the legal documentation or contract.
To ensure the best possible outcome, our lease renewal surveyors are on hand to guide you through this process. Drawing on our commercial property market knowledge, we will work with you to secure the most appropriate lease terms for your business, seeing this right through to the completion of the new lease.
Get in touch with a member of the team for support.
