Leasehold Premises

 

 

We provide detailed and expert advice to both landlords and tenants of shop, office, factory and warehouse properties.

 

The last administration  pressed for changes to new leases granted in England and Wales.There has been no mention of these changes by the current administration. The proposed changes to the Landlord and Tenant Act 1954 would have a profound effect upon the relationships between Landlord and Tenant in the future. At present the pressure is for a revised form of lease containing both upward and downward rent reviews and a format that generally favours the tenant to a greater extent than at present.

 

Market changes have, in recent years, reduced the normal length of commercial leases dramatically. Leases for new lettings are frequently now for as little as three years, sometimes with an option to break before expiry. These shorter leases have an impact upon the valuation of a landlords interest in a building. He is therefore keen to make the leases as long as possible, unless he has hopes of redevelopment of the property in the foreseeable future.

 

The Landlord and Tenant Act 1954 has controlled the vast majority of letting of commercial properties for half a century. In that time it has been modified by countless legal judgements and several modifying Acts of Parliament resulting in a complex technical minefield for landlords and tenants.

 

Specific issues relating to leasehold premises are reflected on pages listed to the side of this page.