We act on behalf of Landlords and Tenants from our offices in London across the retail, office, industrial, leisure and motor trade sectors throughout Greater London, the Home Counties and the South East.
We will provide you with advice on:-
• Rent Reviews
• Lease Renewals
• Lease Restructuring
• Lease Surrender
• Dispute Resolution (Expert Witness work for Arbitrations, Independent Expert Determinations and Court proceedings)
Whether you require professional assistance for a rent review or lease renewal, we understand that each case is unique and will require detailed bespoke advice. Rent reviews, lease renewals and lease restructuring is currently being negotiated against a backdrop of substantial rent fluctuations, notably in central London, which is bringing landlords and tenants into increasingly greater conflict. It is vital that investors can be confident that every opportunity for rental performance is explored, as well as asset enhancement opportunities. Similarly occupiers need to ensure costs are kept to a minimum.
Our surveyors consistently maintain their knowledge of market conditions and have a thorough understanding of the intricacies of business leases. Our recommendations are given in the context of strategic advice with explanations provided on how certain negotiated settlements may affect longer term company or investment objectives.
Our surveyors are experienced negotiators skilled in supporting crucial arguments with robust evidence, ensuring the best possible results are secured for our clients.
Renewing a business lease can be a complex process full of pitfalls. Tenants with leases contracted outside of the renewal provisions of the Landlord & Tenant Act 1954 will not benefit from an automatic right to renew their lease and continue occupation. If this is the case it is important to seek early advice to ensure new terms are agreed well before the lease end date.
Landlords will still have certain rights to refuse the renewal of business leases which benefit from renewal provisions under the Landlord & Tenant Act 1954, including cases where the tenant is in breach of obligations or the Landlord wishes to use the premises for their own occupation. These scenarios need to be dealt with carefully and our experienced team of lease consultants will be able to provide appropriate advice.
The lease renewal process for protected tenancies (leases held within the security of tenure provisions of the Landlord & Tenant Act 1954) is initially centred on the serving of formal notices and often counter notices to bring the lease to an end. Our lease consultants have a detailed understanding of the Landlord and Tenant Act 1954 and combine this knowledge with robust negotiating expertise to secure the best possible outcome for our clients. Where a negotiated settlement is not possible our surveyors will take on the role of Expert Witness for Arbitrations, Independent Expert Determination and court proceedings.
Whether you own or occupy an office, retail, industrial or leisure use property an impending rent review can be daunting. Our surveyors utilise their detailed knowledge of review procedures and the commercial property market, together with their years of experience conducting negotiations, to ensure both our Landlord and Tenant clients secure the best possible deal. We take a detailed analytical approach when reviewing your lease and market evidence, providing reasoned accurate advice from the outset.
Our surveyors will always seek to reach a negotiated settlement with the other party; however in the event a negotiated settlement is not possible our surveyors have the required experience to act as Expert Witnesses should an Independent Expert or Arbitrator be appointed to decide the matter.
Occupiers will seek to surrender their lease or leases when they no longer have a need for their premises. Often a decision to surrender a lease can be brought about by a need to lessen liabilities or to consolidate a number of premises.
In an unstable or weak market, particularly one which is suffering from high vacancy rates, Landlords will be averse to accepting a lease surrender unless a substantial premium is offered. In order to formulate a reasoned and well argued proposal to present to the Landlord, the tenant will need to know what the commercial property market is like for their type of property (i.e. demand, vacancy rates). Our team will provide detailed advice in this respect, together with calculating the liabilities of your lease so an informed decision can be made.
From a Landlord’s perspective being confronted with a tenant seeking to surrender a lease will be concerning. However it may also be an excellent opportunity to improve and add value to an asset. Our team will consult with colleagues in the development, investment and leasing teams to provide guidance on the possible asset management opportunities available to you.