Business Leases

Drafting business leases

If you are acquiring or granting a new business lease it is essential to consider all aspects of the lease before you embark on the process. You will normally be asked to agree the heads of terms if the lease is negotiated through a land agent. You should consult a solicitor before agreeing to the terms as they can impact on your business for years to come and can be difficult to renegotiate once signed.  Hudgell & Partners can assist with drafting and negotiating the wording of the lease on your behalf.

Negotiating renewals

Negotiating the renewal of your business lease is something that requires careful handling. It is often wise to employ a surveyor to negotiate the rent for you. We recommend that you contact us at least six months prior to the expiry of your lease. Unless you have agreed for your lease to be ‘excluded’ (from the provisions of the Landlord and Tenant Act 1954) you are automatically entitled to be granted a new lease if you are carrying on a business at the property.

Business lease transfers

If you no longer require your business premises and wish to pass the responsibility (for paying the rent) to another person or company you will need the assistance of a lawyer.  Your landlord will want to be sure that the new tenant will be as reliable as yourself and be able to pay the rent on time.  Careful persuasion of the landlord is often needed to ensure a smooth transition.  You will also need to be advised of any repercussions in the future should the new tenant default on the lease after you have parted with it.

The business team at Hudgell & Partners have a detailed grasp of the complexities of the process and have renewed and drafted leases on behalf of businesses, both small and large, across different sectors in South East London.

Contact Nick Hart nh@hudgellpartners.co.uk  to discuss your needs or telephone 020 8854 1331 to make an appointment.

 

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