Chartered Surveyors &
Commercial Property Experts

Valuation & Lease advisory

Commercial Property Lease renewals.

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The team at Fairhurst Buckley have 55 plus years of experience dealing with Lease Renewals on commercial property throughout England and Wales as well as Scotland where commercial property is subject to Scottish Law.

In England and Wales, a lease continues until it is terminated by either a Landlord or Tenant (unless the lease excludes security of tenure). Fairhurst Buckley have an excellent reputation for dealing with lease renewals for clients throughout the UK focused on achieving the very best results for our clients. Ideally, formulation of a lease renewal strategy should start 18 months before the due date so a tactical plan can be developed, and appropriate advice given to suit our clients’ objectives.

We offer full support to our clients throughout the lease renewal process which typically consists of the following:

  • We carefully listen to our client’s objectives and advise on the most appropriate strategy considering both legal and valuation perspectives
  • Timely action and the right strategy can ensure that rental increases and decreases take effect from the earliest possible date
  • We will review the lease and liaise with our client’s appointed solicitor
  • The premises are inspected & measured in accordance with the RICS Code of Measuring Practice
  • A Lease Renewal Report is produced including a rental assessment and a recommendation and strategy that has been tailored to suit our clients’ exact objectives
  • We will negotiate robustly to get the best deal for our clients
  • We may take this opportunity to vary the terms of the existing lease, for instance – inserting a break clause or removing potentially onerous lease covenants
  • If terms cannot be agreed, then the matter will be referred to Court, and we can attend as an Expert Witness on our client’s behalf.

Information for tenants.

If you are a tenant in England & Wales and the Landlord has served a Section 25 Notice to terminate your lease, it is very important that you take the advice from a Solicitor and a Chartered Surveyor as soon as possible. If terms for a new lease are not negotiated prior to the termination date, then a Tenant may lose their security of tenure and the right to renew the lease. A lease renewal is an important issue for a Tenant as it may be possible to vary the terms of the existing lease. Alternatively, a tenant may not have heard from the Landlord and might wish to agree to a lease renewal. In this case, a Section 26 notice can be served on the Landlord (ideally from your Solicitor), which will bring the lease to an end and requesting a new lease.

Information for Landlords.

If you are a landlord, then it is vitally important to act promptly when your Tenant’s lease is due to expire. In England & Wales, if no action is taken, then an occupational lease will continue after the expiry date (unless it excludes security of tenure). It is therefore vitally important that a Section 25 Notice is served on your Tenant (ideally from your solicitor) in order that the existing lease will come to an end and a lease renewal with a revised rental can be agreed. If you do not wish to grant the Tenant a new lease, then you can object to the granting of a lease renewal on certain grounds, which we can advise upon.

Enquire about a Lease Renewal

Or for more information please contact us:

Sales & Lettings: 0161 480 3880
General Enquiries: 0161 476 9476

Fairhurst Buckley Ltd,
7 Acorn Business Park,
Heaton Lane,