|  | | Lease Renewals | | | The Landlord & Tenant Act 1954 which had stood the test of time for over 50 years without significant amendment was reformed in 2003.
It continues to have the aim of providing tenants with a statutory right to take a new lease on market terms upon expiry. It will remain possible to exclude these rights by contracting out for which the procedures have been streamlined whilst ensuring the tenant is made fully aware of the limitation of the commitment they are entering into.
In the event of a breakdown in negotiations between the parties there is provision for the Court to intervene where the tenant holds security of tenure. This process inevitably implies cost and uncertainty and whether acting for landlords or tenants it is our stated aim to achieve the optimum commercial solution through the process of negotiation and not litigation.
For further information please contact Jeremy Gilbert.
Case Study
New flexible lease terms agreed for 19,800 sq. ft. office building at Capital House, Salford Quays, Manchester, for Sesame Group.
 |
|
|
