Bissett Kenning and Newiss are continually successful at dealing with the professional aspect of modern surveying. We offer a comprehensive range of services for clients on either side of discussions. Our professional advisory services cover:
Bissett Kenning and Newiss can advise on all types of commercial property including office, retail, leisure, industrial etc. Our services span nationally and our aim is to ensure our clients best interests are always protected.
If a lease is granted for longer than say five years, it is usually the case that the parties involved will make provisions in the lease for varying in annual rent at intervals during the term. Rent review clauses are traditionally included in commercial leases in order to allow the landlord to increase the rent.
Options to renew a lease are not usually found in commercial property leases because most tenants are typically protected under Part II of the Landlord and Tenant Act 1954 and will therefore have a statutory right to be granted a new lease which the landlord can only oppose on certain grounds.
A surrender releases the tenant from any future liability under the lease. A surrender occurs when the tenant relinquishes his lease to the immediate landlord with the landlord's consent.
Usually, under a lease, the tenant is liable for the works of repair on the property and ensuring the property remains in a good state of repair. If the lease provides a dilapidations clause the tenant will also, at the end of the lease, be responsible for ensuring the property is in the same state of repair in which it was at the beginning of the lease.
Unresolved rent reviews are referred to third party (an arbitrator or an independent expert). This will be an experienced Chartered Surveyor who is usually appointed by the President of the Royal Institution of Chartered Surveyors (RICS). In order to achieve a successful outcome, the expert witness has to have outstanding knowledge of the relevant market and be able to successfully achieve the clients desired result.
Bissett Kenning and Newiss can advise on lease terms, rent review clauses, the basis of valuation for rent reviews etc. when drafting a new lease or at lease renewal. We can work closely alongside solicitors and advisors in all different scenarios.
The lease may contain a clause where one or more parties are given the option to determine the lease, at a particular time, before the lease has run its full term. This is called the break clause and must be exercised in accordance with its terms in the lease.
The tenant will be free to deal with his/ her interest in a property any way they wish unless the lease contains some restriction. They may be able to assign, grant sub-leases of the whole or part, change the lease and part with possession of the premises, without obtaining landlord's consent. This amount of freedom is unlikely to be acceptable to the landlord and therefore fair balance between the two parties needs to be agreed.
Should you require any further information on any Landlord and Tenant matters please do not hesitate to contact us.