Commercial Lease Extension Solicitors
If you do have a commercial lease, it is vital to know your rights in extending your lease and terminating it if necessary.
Part II of the Landlord and Tenant Act 1954 (LTA) provides commercial leaseholders with ‘security of tenure’. This means your commercial lease will not automatically end upon expiry of the contractual term; and your lease will only come to an end if the termination provisions within Part II of the LTA 1954 have been followed. If the contractual term of your lease expires, you will be able to renew your lease on substantially the same terms as specified in the original (save for rent), by way of a statutory renewal.
It should be noted however, that security of tenure can be removed from a lease through a procedure known as ‘contracting out’, and therefore not all leases have this renewal ability.
The process of renewal can be triggered in the following ways:
Firstly, your landlord may serve a Section 25 Notice upon you. Secondly, you could start the process by serving the landlord with a Section 26 Notice.
If you receive a Section 25 Notice or wish to serve a Section 26 Notice, we would strongly recommend that you obtain independent legal advice so that you are aware of your rights going forward. Such notices must be drafted correctly and must be served within the correct strict time limits. Receiving such legal advice could therefore save you both time and costs in the long term and also preserve your relationship with the other party.
If you do wish to seek advice in relation to renewing your commercial lease, please contact Lorraine Lancaster on 01702 338338.
As Commercial Lease Extension Solicitors, our experienced team of solicitors is here to help with all your lease extension needs.
Our Commercial Lease Extensions service is designed to help businesses extend the terms of their leasehold property. We understand the importance of having a long-term lease, and we work hard to ensure that our clients receive the best possible outcome for their lease extension. Our team of expert solicitors will guide you through the entire process, ensuring that you are fully informed and comfortable with each step.
This service is for businesses that wish to extend their leasehold property. Extending the lease of your commercial property can provide you with greater security and control over your business premises, allowing you to invest in your business with confidence.
Our Commercial Lease Extensions service is comprehensive and includes all aspects of the lease extension process, including lease valuation, negotiation, and agreement.
Our process is designed to be straightforward and transparent, and we pride ourselves on keeping our clients informed at every stage. After an initial consultation, we will assess your leasehold property and provide you with an accurate valuation of the lease extension cost. We will then negotiate with the landlord and their solicitors to agree on the best possible lease extension terms for your business. Once the terms are agreed upon, we will draft the necessary documents and complete the lease extension process.
The outcome of our Commercial Lease Extensions service is an extended lease term that provides greater security and control over your business premises.
If you require a commercial lease extension, contact us today to arrange a consultation with one of our expert solicitors. We offer a fixed fee service with no hidden costs, providing you with peace of mind and certainty throughout the lease extension process.
What is a commercial lease extension?
A commercial lease extension is a legal process that allows a business to extend the term of their leasehold property.
How long does the process take?
The process can vary depending on the specifics of the case, but we aim to complete the process within a few months.
Why should I use Paul Robinson Solicitors for my commercial lease extension?
Our experienced team of property solicitors has a wealth of experience in commercial property law and lease extensions. We offer a fixed fee service with no hidden costs, providing you with peace of mind and certainty throughout the lease extension process.
How can we help you today?
What is a Commercial Lease Extension?
A Commercial Lease Extension is a legal process by which a tenant can extend the length of their leasehold on a commercial property, such as an office, retail space, or warehouse.
How do I qualify for a Commercial Lease Extension?
To qualify for a Commercial Lease Extension, the tenant must have been in occupation of the property for the entirety of the contractual term and the lease must be valid and subsisting.
How much does a Commercial Lease Extension cost?
The cost of a Commercial Lease Extension can vary depending on factors such as the length of the extension, the property’s value, and legal fees. It’s important to consult with a solicitor or a professional valuer for a detailed estimate.
How long does the process of a Commercial Lease Extension take?
The process of a Commercial Lease Extension can take several months to a year or more, depending on the complexity of the case and any disputes that may arise.
Can the landlord refuse a Commercial Lease Extension?
A landlord has the right to refuse a Commercial Lease Extension, but they must provide a valid reason for doing so. If a tenant disputes the refusal, the matter can be taken to the court.
What happens after a Commercial Lease Extension is granted?
After a Commercial Lease Extension is granted, the tenant will have a new lease with an extended lease term. They will also be responsible for paying an increased rent, which is usually based on the current market value of the property. The tenant may also be required to make some improvements to the property, and to pay for the landlord’s legal costs.
Located in the heart of London and Essex
Paul Robinson Solicitors is a thriving independent law firm committed to providing exceptional service to clients nationwide, with offices situated throughout London and Essex.
Established in 1983, the firm has steadily expanded over the past 35 years, offering an extensive range of legal services to both personal and commercial clients. The team of highly experienced and skilled solicitors specialises in various fields and is dedicated to providing an outstanding level of service to achieve positive outcomes for their clients. The firm’s cutting-edge technology and efficient systems, together with its support and managerial staff, ensure maximum efficiency, accuracy, and cost-effectiveness.