Most commercial leases benefit from security of tenure in accordance with the Landlord & Tenant Act 1954, as amended. Usually appropriate legal notices are required to be served under strict timescales and instigation of the lease renewal process may depend on the prevailing rental market conditions at the time.
If you are a landlord or a tenant under contract in a commercial lease agreement it may be prudent to take advice in good time, usually 6 to 18 months prior to the expiry date of the lease to ensure appropriate advice on the rental market valuation. Also, to ensure that the correct action is taken to protect your legal position and to ensure that the appropriate notices are served within the required timescales, in conjunction with legal advisors.
We assist landlords who wish to instigate a lease renewal or tenants whose landlord has served written notice of intention to end the lease.
Contact us for a no obligation consultation to see how we can help.