Our Commercial team provide a wide variety of professional services assisting clients across all sectors. The following are just some examples of our Commercial activities:
We act for both Landlords and Tenants throughout their lease cycle. We carry out initial assessments to provide you with our opinion of the level of rent which should apply, having regard to the terms of your lease. Depending on the outcome of our initial assessment and following your further instructions, we can act on your behalf and negotiate with the other party to ensure agreement of a favourable rental settlement.
Lease Renewals, Surrender and Restructuring
Most business leases benefit from Security of Tenure, meaning that Tenants have a right to renew their lease in certain circumstances in accordance with the Landlord & Tenant Act 1954, as amended.
The decision of when and upon what terms to serve Notices can be tactical depending on whether the current passing rent is higher or lower than the Market Rent and Courts can take a dim view on serving Notices with unrealistic terms. It is therefore essential to obtain valuation advice at an early stage.
We would normally advise a Landlord or Tenant 6 – 18 months prior to the expiry date of the lease to ensure that the correct action is taken to protect their position and to ensure that the appropriate Notices are served within the required timescales, in conjunction with your legal advisors.
There are often advantages for either party to the restructure of their existing lease. We can assist by first understanding your requirements and assessing the benefits to both parties, followed by engaging with the other party on your behalf to negotiate an agreement that is acceptable to both sides. We would then prepare heads of terms and once agreed instruct solicitors to document the transaction.
RICS Red Book Valuations
As an RICS registered and regulated firm, our RICS Registered Valuers are qualified to complete Commercial property valuations for most purposes. Speak to us about your valuation requirement and we will be pleased to assist.