General A lease is an agreement between landlord and tenant setting out the terms and conditions under which a property is let. The landlord may be a freehold owner or may himself hold under a longer lease at a market rent or at a nominal or relatively low rent. “Commercial” leases are effectively investments in […]
Category: Commercial Property
Assignments and Sub-Leases
Overview A tenant’s rights in relation to transfer, sub-letting, alterations, works and change of use are of key importance under a lease. The areas raise common issues. The Landlord and Tenant Acts create certain rights for tenants in relation to these areas which may override what the Lease says. In some cases, it is not […]
Use, Works and Improvement
Change of Use Applications Leases will normally restrict the permitted use of the property. This will be particularly important in the case of a shopping centre or shopping arcade whether it was a mix of different uses. Planning and building control and other legislation will also specify what type of uses of property can be […]
Rent and Term
Rent Rent is always a key commercial term. In the case of an investment property, the landlord will expect that rent is paid in addition to contributions for service charge and insurance. Rent will usually be payable quarterly in advance, although it is possible to make any commercial agreement as may be required in the […]
Repairs and Insurance
This is an overview of certain terms and conditions in commercial leases in England & Wales. Commercial leases are leases at a market rent of a retail, office, or industrial property or building at market rent usually for a term of 15 years or less. Repairs Responsibility for repairs is a common source of dispute […]
Rights of Renewal
Contracting Out English Landlord & Tenant law has simplified the procedure for a tenant to “contract out” of Landlord & Tenant Act rights of renewal. In Ireland, a tenant will qualify for Landlord & Tenant Act rights of renewal where the property has been let for five continuous years and used for business purposes unless […]
Statutory Requirements
General Various schemes of legislation apply to property and to its use. Statutory obligations may arise by reason of the activities carried on at the property or from the nature of the property or building concerned. Legislation provides specific obligations for particular types of property or where the property is used for a particular trade […]
