It is important to consider your lease renewal at the earliest opportunity, as there are many things to consider and it is important that a new lease is aligned with your business need.
In the UK, there are generally two different types of lease renewal:
- Where a tenant has the right to a new lease, subject to certain conditions; and
- Where there is no such automatic right.
Depending on your existing lease terms, this will impact how negotiations should be conducted.
How to renegotiate your lease
It is important to seek professional lease advice to ensure the best possible outcome when renegotiating your lease terms.
At Vail Williams we are experienced in dealing with all types of lease renewals and will advise on the most appropriate strategy to be adopted.
Any advice that we give in relation to the renegotiation of your lease, will be considered in connection with your strategic business needs in the future.
We will work with you to secure the right lease terms and get them documented in a “Heads of Terms” format which is what your solicitor will then use to draft and complete the appropriate legal documentation.
By investing the time early on to consider what your business needs from a new lease or any alterations you want to secure to your existing terms, will help to ensure that your business is not restricted by onerous obligations in the future.
Our lease renewal surveyors can guide you through the lease renegotiation process and will draw on our commercial property market knowledge, to secure the right lease terms for your particular situation.
