Landlord & tenant
Although much of the advice which we give in this area is to landlords, we nevertheless continue to represent some high profile tenants. We therefore have a very clear understanding, from both perspectives, of the need to avoid the frustrations and tensions which can be the product of over-elaborate or over-negotiated lease documents.
As a landlord you will need to maintain a balance between protecting capital value (and, in a multi-let situation, the interests of your other tenants) and your desire for an asset to be income producing as quickly as possible.
If you are a tenant, on the other hand, your main preoccupation will be when you can take possession to commence your fitting out, but you will also be aware of the need to look ahead and ensure that you have flexibility in the lease and that it is one which you can sell or sub-let if you need to.
Landlords in the current market are generally very aware of the benefits of having satisfied tenants (or customers) in their properties and our approach is to ensure clarity in drafting and negotiation with a view to finding an acceptable middle ground between the parties as quickly and as amicably as possible.
With the threat (or benefit) of increased monitoring of the content of lease negotiations and terms by Property Industry Groups, and ultimately by Government, the next few years will be a very important period in the shaping of the business lease.
We operate with full support from solicitors in our Landlord and Tenant Dispute Resolution team who will work with you to find practical and cost effective solutions when the landlord and tenant relationship is in danger of breaking down.
Key contact: Michael Higginson