Commercial Property Leases: 4 Key Tenant Considerations
Due to the high expense and upfront capital investment required to purchase a commercial property, many businesses prefer instead to become a Tenant under a Commercial Lease. A Commercial Lease records the relationship between the property owner (the Landlord) and the occupier (the Tenant) and sets out the terms on which the Tenant may occupy […]Read more
Another day, another article on Brexit. But this one is a little bit different. It concerns a dispute between the Canary Wharf Group, a property development, investment and management company, and its tenant, the European Medicines Agency (“EMA”). The EMA is, in simple terms, attempting to get out of the remaining term of its 25 […]Read more
Airbnb – Playing with fire?
Over the last few years, the popularity of short term holiday or business letting websites has increased and shows no sign of slowing down. It’s easy to see why. The hosts can rent out their property when it suits them and don’t have the burden of becoming a full time landlord. The guests get an […]Read more
Fighting the system – Service charge disputes
Service charges will be familiar to most people holding flats or houses under a long lease. A leasehold owner owes various obligations to the freeholder (or a management company, where present) as set out in the lease including paying ground rent, contributing towards the insurance of a multi-occupier building and paying service charge, generally, the […]Read more
To surrender or not surrender?
When is a commercial lease surrendered? The question may appear straightforward but as the tenant found out in the recent case of Padwick Properties Limited v Punj Lloyd Limited the answer is not always as simple as it seems. The landlord granted a 21 year lease of an office block to the tenant company. The […]Read more
Beware the repair! – Top tips for limiting your liability
About to take on a lease of commercial premises? Make sure you are aware of the repair liability you are taking on… An FRI lease is the abbreviated term for a lease which imposes full repairing and insuring obligations on the tenant, relieving the landlord from all liability for the cost of and repairs. Most commercial leases will place […]Read more
Service Charge in Leases – Short-term gain could mean long-term pain
Where there is ambiguity in a contract or a lease the Courts can interpret the wording in the clause using commercial common sense. In the recent case of Arnold v Britton the Supreme Court was asked, on appeal by a tenant, to apply this approach in determining the service charge provisions in a number of […]Read more
When is a Tenant not a Tenant?
Commercial property owners are often faced with a dilemma, whether to grant access to a Tenant on a short term basis whilst a lease is agreed or whether to hold out and insist that the lease is completed. It is important that landowners/tenants are aware of the implications of agreeing early access to a Tenant, […]Read more
Ramsay’s Court Room Nightmares
Gordon Ramsay yesterday lost a long running Court case in which he claimed he was not liable to pay alleged outstanding rent payments. Ramsay, well known for his string of outspoken cooking programmes, had issued proceedings seeking a declaration that his signature on a lease (which purported to personally guarantee the obligation to pay rent) […]Read more
Holding over (contracted out tenancies)
At the expiry of a contracted-out lease1relating to commercial premises, the tenant has no automatic right to remain in situ. Whereas, if the provisions have not been excluded then the tenant will be entitled to remain unless one of the parties has sought to determine the tenancy by a prescribed method. For the purposes of […]Read more