Commercial Lease Solicitor for a New Lease

Do I need a solicitor for a commercial lease?

The law does not require one, but a commercial lease is a long, binding contract, and it can affect your business for years. Most tenants and landlords use a solicitor to check and negotiate it.

I act for tenants taking on new premises and for landlords granting leases.

What are heads of terms?

Heads of terms are the outline of the deal: the rent, the length of the lease, any break clause, any rent deposit and the other main conditions.

They are usually agreed before the lease is drafted, and they are normally not legally binding. Many important points are set at this stage, so it can help to speak to me before you sign them.

What is a break clause in a lease?

A break clause lets the tenant, the landlord, or both end the lease early, on a set date or after a set period.

How does a break clause work?

The party who wants to end the lease serves a written notice by the deadline the lease sets. The break usually only works if its conditions are met, such as paying the rent up to date or giving the premises back empty.

If the conditions are not met exactly, the break may fail and the lease continues. I check the conditions in your lease and explain them clearly.

What I check in a new lease

• The rent, and how and when it can change at a rent review.
• Repairs and the service charge: what you pay for and what you must put right.
• Break clauses and the conditions attached to them.
• Rent deposits and guarantees.
• What the premises can be used for, and whether you can assign or underlet later.
• Whether the lease is protected by the Landlord and Tenant Act 1954, which gives many business tenants a right to renew.

Extra documents

Some leases need extra documents, such as a rent deposit deed, a licence for works, or an agreement for lease where works are carried out before the lease starts. If I act for a landlord and the lease is to be outside the Landlord and Tenant Act 1954, notices must be served before the lease is signed. Each of these has its own fixed fee on the Fees page.

How it works

1. You send me the heads of terms, or tell me about the deal.
2. I send you a fixed-fee quote and tell you which firm will act for you.
3. Identity checks and documents are handled online.
4. I review the draft lease, explain the key points and negotiate the changes you need.
5. You sign online, or by post where that is needed, and I complete the lease.
6. For a lease of more than 7 years, I also deal with the stamp duty land tax return and the registration at HM Land Registry.

Fees

My fixed fees for a new lease depend on whether the lease needs to be registered. They are on the Fees page, with the fees for extra documents, shown plus VAT and including VAT.