Close cookie policy popup window
This site uses cookies for analysis purposes only. This helps us understand how you and other visitors use our site. To see a complete list of these cookies or to opt out please access our cookie policy page.

You will see this message only once, but you will be able to find more information about our use of cookies or opt out at any time.
Lease Renewal Case Study | Kirkby & Diamond

Case Study - Lease Renewal

Published on Wednesday, 18 May 2011

Peter Wilson – Partner Kirkby & Diamond

The clients are a tenant of a modern industrial unit on an industrial estate on the edge of an established market town.  The lease was due to terminate some 12 months ahead.  Rental values had fallen since the start of the existing lease.

As rental levels had fallen, there was a possibility that the landlord would delay serving a formal notice to terminate the lease in the hope that the tenant, if not advised, would allow the existing lease to continue at the existing rent.

The client was recommended to initiate the lease renewal process himself under the Landlord and Tenant Act (1954) in order to bring the Landlord to the negotiating table to ensure that a new, lower rent would become payable at the earliest possible date.
Taking into account the reduction in rental levels and all relevant comparable evidence, a renewal of the lease was successfully negotiated with a rent that was some 30% below the rent passing under the old lease.

Kirkby Diamond is a trading name of Kirkby Diamond LLP Privacy Policy Sitemap Cookies Policy XML Sitemap