COMMERCIAL PROPERTY LAW
Our commercial property law team can provide invaluable advice if you are considering signing a lease for a commercial property. These types of contracts tend to be longer term, so it’s essential that certain clauses such as breaks are properly set out and documented. This is for the benefit of both the landlord and the tenant and to prevent any later disputes or misunderstanding.
Our team has in-depth knowledge of the legislation which applies to commercial property, such as the The Landlord and Tenant Act 1954. We can help you draw up a legally binding, mutually acceptable commercial lease, or we can check a lease that’s already been drafted to ensure you are fully protected.
For more information about our commercial property law services please call us on +44 (0)20 3475 6751 or email email@example.com
More information on leases
Are you a landlord or a tenant with questions about a commercial lease? We can explain how commercial leases work and help with setting up, renewal or termination.
A commercial lease is a contract between a landlord and a tenant which sets out the terms on which a property is rented for the purpose of carrying out business activity. This is very similar to the leases used for renting a domestic property, except that in the case of a commercial tenant, there is less protection provided by the law. This is because it’s considered that the two parties are both knowledgeable individuals, and are expected to understand the contract they’re signing in depth.
There are no mandatory elements to include in a commercial lease but the following are typically found:
- The address
- The type of property
- The purpose for which is it being leased/type of business that is permitted
- Term of the tenancy
- Confirmation of whether the lease is fixed term or automatically renewable
- Amount of rent and when payable
- Security deposit and its provisions
- Leasehold improvements – who is responsible?
- Any improvements the landlord/tenant is explicitly responsible for
- Subletting – this may be specifically prohibited
- Insurance provisions
- Termination of the lease agreement
Signing the lease
Typically only the landlord and the tenant will be required to sign the lease. In some cases, a third party such as a guarantor will be required to add their signature to the contract.
Terminating the lease agreement
If you want to terminate the lease agreement early, check the contract for a break clause. This allows the tenant to give the landlord notice of termination, typically with two months warning. If the break clause is present, there will be no financial penalties that apply.
You can also end the lease early if you are able to sublet the premises (and this is permitted under the terms of the lease), you assign the lease to another party (you may need your landlord’s permission) or the landlord agrees that you can provide notice of termination, even without a break clause.
It’s worth noting that if the contract contains a break clause, the landlord can also use it to provide the tenant with notice of termination. Without a break clause, the landlord may only terminate the lease agreement if the tenant commits a serious breach such as subletting without permission or failing to pay the rent.
YOUR COMMERCIAL PROPERTY LEGAL TEAM
Acted for a pension fund on the £55m acquisition of 3 office buildings and headed up the team dealing with the subsequent estate management
We have acted on both the landlord and tenant side and have completed over 700 lease grants and assignments
WHY CARTER BOND
Unlike many law firms when we say partner or barrister led, we mean partner or barrister led. When clients work with us, they get constant access to the lead on their instruction. Yes, we have a team of solicitors and juniors for some of the groundwork and necessary research required by our clients, but this is when it makes financial sense to the client for us to do this. We provide constant contact at no extra cost as part of our service as most of our lawyers have their own business, so they know first-hand how important having a proactive, responsible and trusted partner on their side can be. And also how to work to a financial budget, and the way that legal decisions impact the wider organisation, which often requires balancing risks and competing interests.
Many ask us ‘what’s different about you?’ and we like to reply, ‘because we go the extra mile’. We see our work as building and maintaining good business relationships rather than just earning fees. How we do this is by keeping in constant contact with our clients and intermediaries. From pre to post instruction we ensure that our clients are informed of all legal issues that may impact their business and therefore lives. That is why we provide daily or weekly updates to ALL of our clients whether there is anything to tell them or not (we don’t charge for this we just see it as part of our service). We like our clients to rest peacefully knowing that when we are instructed, and we say ‘we will take it from here’ they know we mean it.
City quality, outer City fees
The world is changing, and many individuals are realising that lifestyle is as vital to them as is income. We are the lucky ones who can hand pick lawyers who can provide the best quality advice but at outer city costs. Our offices are in North West London which may not be the most salubrious in the market but at the same time this allows us to charge our clients for what they pay for, our advice NOT our office space.
ALL our lawyers have previously worked in large city-based law firms and continue to practise and offer the same high level service they provided to clients in the City but without the pressure and demands often dictated by City law firm. This allows us to be competitive on our fees without compromising our service.
All in all, our clients win, which is the way we like it.
Our knowledge and resources are yours
All our clients benefit from the same high level of care and attention whether the instruction is big or small. At the outset of each matter, we discuss the entire process with our clients, including the costs, potential outcomes and issues associated. This is to ensure clients are fully aware, knowledgeable and are in control always. Supporting and ensuring we provide the highest level of services, we offer our constant contact process with the partner or barrister leading your file, a document log in for matters which are for larger and more complicated instructions and on-going support post transaction should our clients require it. Our aim is not just to get the work done, but to make our clients’ lives easier as we do it, which is why we ensure that our clients have regular access to the resources they need from us.
“Excellent at solving problems and protecting our business.”
“Highly recommended. extremely proactive.”
“I wouldn’t hesitate to recommend them.”
“Very good and quick service.”
“Always quick to respond and good value for a high standard of legal services.”
“The best solicitors I’ve used, hands down, for commercial conveyancing!”
“Would highly recommend Carter Bond.”
“5-Star service, highly knowledgeable.”
Reena and her highly organised very well experienced team of lawyers and consultants are totally dedicated and motivated with everything they do.”
“Great work by Reena and her team to turn around a dental practice purchase in 7 days under challenging circumstances.”
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GET IN TOUCH
For more information, or to discuss your requirements, please contact our team on +44(0) 20 3475 6751 or firstname.lastname@example.org