Lease Advisory

Acting on behalf of a private landlord client we are providing advice in connection with a commercial lease restructure. Negotiations with the tenant’s advisors have had to balance our client’s objectives to maximise income over the long term with the occupier’s desire to purchase the property in due course.

Advice has been provided and negotiations undertaken to deal with a number of interrelated issues, in particular:

• Terms of a tenant’s option to purchase – price and mechanism issues.
• Structural alterations required by tenant.
• Terms of a tenant break option.
• Future basis of rent reviews and commencing rent.

We have also provided valuation advice on redevelopment options, introducing a town planning specialist as part of the process.

We are now working with our client’s solicitor to finalise reversionary lease terms following agreement on the Heads of Terms with the tenant’s advisor and expect a satisfactory outcome for our client.