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Derek Walker Chartered Surveyors, Commercial Property Agents, Rent Review in Bath
Derek Walker Commercial Property Bath

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Lease Renewal

For anyone with a business tenancy, knowledge of the Landlord & Tenant Act 1954 is vital. Under this Act a lease of business premises will continue on the same terms indefinitely until brought to an end by use of the proper notice. How and when to serve such notice and the considerations that apply in each case are matters upon which expert advice should be sought at an early stage. There is no substitute for good planning and eighteen months from the date set for the end of the lease is not too soon to begin.

In all but the simplest of cases landlord or tenant should employ a solicitor experienced in Landlord & Tenant Act work and an experienced surveyor to advise on the market, terms of the lease, rent and best timing.

We act for either landlord or tenant in negotiating terms for a new lease. If the parties cannot agree then the Act provides that the terms, including rent, will be settled by the appropriate Court. Court procedure has altered recently and this has changed the way that one has to think about lease renewals quite dramatically. The Court is now master of the proceedings and may not accept the parties' request for an adjournment or postponement while negotiations continue. The evidence and case should be prepared at a very early date to avoid being caught unawares or without proper time. Clients might avoid unnecessary professional fees by negotiating well in advance and making their arguments clear to the other side.

Most lease renewals can be dealt with fairly simply if sufficient time is given to preparation and discussion with the other side. We can advise on renewals in the Bath area and will be pleased to quote for such work on a percentage of rent, hourly rate or incentive basis as appropriate. VAT is charged on our fees at the standard rate. All our discussions are confidential.

Site last updated 13 December 2018.
© COPYRIGHT 2009 DEREK WALKER CHARTERED SURVEYORS
6 GAY STREET BATH, TEL: (01225) 448944, EMAIL : mail@derekwalker.co.uk