Lease Renewals
Commercial property lease renewals
Background
Most business tenancies or leases of commercial property or business premises in England and Wales are protected under the Landlord and Tenant Act 1954. However, there are a number of exceptions. It is imperative to determine at the outset whether the lease or tenancy is protected by Part 2 of the Landlord and Tenant Act 1954. Even if it is protected, the grant of a new tenancy can be denied provided that certain specific grounds are met. These are set out in s30 of the Landlord and Tenant Act 1954.
Lease renewals of protected business tenancies take place under the Landlord and Tenant Act 1954. There are strict procedures and time limits to follow. It is therefore important that you take professional advice at the earliest opportunity in order to avoid the many pitfalls that could prevent a successful outcome of a lease renewal.
For investment property owners it is essential to start considering the lease renewal at least 18 months prior to the lease expiry. Occupiers of business premises facing a lease renewal should also start to consider their options well before the lease renewal is due. This will ensure that they are able to be in the best possible position to achieve a favourable outcome of the lease renewal.
Our Skills
Mackenzie Associates are specialists in dealing with lease renewals of business premises and have over 20 years' experience.
We have a thorough working knowledge of the legislation and the associated case law relating to lease renewals of business tenancies. This, together with considerable experience of successfully negotiating favourable lease renewal terms for a range of business premises occupiers and commercial property investment owners, means that we are uniquely placed to ensure that you achieve the best possible result for your lease renewal.