Why (or when) someone would need this service?
A commercial tenant would require this service when they have negotiated terms for a new lease or when they wish to renew their lease.
We are also frequently instructed by commercial landlords to act on their behalf on such matters. For further information read about our service for landlords.
How does the process work/what are the steps?
For new leases the tenant would ordinarily have agreed terms through a commercial letting agent or else directly with the landlord. In the case of lease renewals the tenant may be proceeding by way of agreement with the landlord. Alternatively there may be a need to serve a notice under the Landlord & Tenant Act 1954 which provides security of tenure to tenants of many commercial premises. In such cases the lease will not automatically end when the term expires.
How long does it take?
We would hope to deal with new leases in about six weeks. If terms are not agreed on a lease renewal then it could take considerably longer to have the matter resolved by the Court or by an Arbitrator appointed on Court terms under the PACT Scheme (Professional Arbitration in Court Terms).
Is it expensive? How do the costs work?
Once terms are agreed we charge on a sliding scale, wherever possible on a fixed fee basis based on the rent payable. Our fees for negotiations and Court proceedings are usually on the basis of an hourly charging rate.
What are the things people should consider before calling?
Tenants should be clear about the extent of the property, the rent that they pay and the details of any service charge and additional payments (such as insurance) which are required. They should also consider carefully whether the lease has security of tenure rights under the Landlord & Tenant Act 1954 and also to whether they may wish to negotiate to be allowed to break the lease before the end of the full lease term.
Why are Grant Saw the best people for the job?
We have successfully acted for tenants of many commercial premises and have a team of dedicated lawyers able to assist you. To discuss your legal requirements in further detail, please contact us by emailing commercial@grantsaw.co.uk or call us on 020 8858 6971.
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Meet the Commercial Property Solicitors team
