Making the most of your lease
We act for clients including Trade Counter operators, Industrial & Logistics and Office occupiers, as well as the Licensed and Leisure sector.
Using our expert knowledge of the ever-changing markets and case law that affect commercial leases, as well as our experience in property acquisition and disposal, we ensure our clients — whether landlord or tenant — make the most of and improve the terms of their lease.
Working nationally and in partnership with local experts, we maintain up to date market knowledge by offering the best of local, regional and national advice to our clients.
How We Help
Rent Reviews
We identify the terms of your lease where the greatest opportunity and risk lie, structuring our advice and negotiations to achieve the best possible outcome.
Lease Re-gears
Even in a rising market, the opportunity exists to leverage off lease expiries to drive value out of your property portfolio.
Break Options
Clear, timely advice on exercising or negotiating break clauses to protect your position at key decision points.
Renewals
Representation through lease renewal negotiations, securing terms that reflect current market conditions.
Lease Advisory Key Pointers
Noted below are some key pointers worth considering for both landlords and tenants.
Look ahead
Time passes quickly when you are running a business. Before you know it even a 10-year lease can be nearing expiry or a break clause fast approaching. Plan ahead, diarise your lease events and give plenty of room for the negotiation process as this can take a long time. Remember, incentives may be available for removing the uncertainty of a lease expiry or break from a lease. Leave it to the last minute and your bargaining power may be all but gone.
Timing is everything
Be wary of the timing of notices. Serve a notice even a day late and you can lose your rights to a break, review or even the right to bring a lease to an end. Correct timing and service of notices are a major pitfall, as too is the format of the notice.
Break options almost always carry a condition
Always check the conditions imposed on you when actioning a break option. Some break clauses are conditional upon full payment of rent or redecoration of the premises prior to service of the notice. Plan well ahead and be sure to meet them, as your landlord may not be as accommodating as you think.
Read the lease
As obvious as it may seem, you or your advisor must read your lease before any negotiations begin. No two leases are exactly alike — failure to spot an unusual clause could result in a costly mistake or lost opportunity.
Understand your position
As a landlord or tenant, the property will have a value to your business. To get the best possible deal, it is essential you know the current market incentives and rentals for the property in its locality.
Alternatives? Always have a plan B
Occupiers and landlords alike should be aware of alternative premises at the outset of any discussions. Break options and lease expiries allow occupiers the opportunity to review the market.
Keep talking
Remember that lease events are an opportunity to start a dialogue. Plan well ahead, draw up a list of wants and desires, then start talking and keep talking.
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