Following the Governments announcement on the UK going into lockdown, many businesses have followed protocol and have instructed their employees to work from home.
Commercial lease extensions arise when a lease is due to expire.
In many cases, both landlord and tenant will wish to work towards lease extension, and this process will ideally run smoothly, although disagreements do sometimes arise. When this occurs, it is usually in the interests of both parties to take all the practical steps to resolve as swiftly as possible, in order to protect the interests of everyone involved.
Reaching An Agreement
It is advisable to begin by attempting to reach an agreement for the commercial lease extension through negotiation, however, if this is unsuccessful, the commercial property experts at Stirling Ackroyd Legal can help you.
There are several grounds upon which a landlord may refuse a commercial lease extension, for example, if they need to make use of the property in a different way. However, disputes more commonly arise when both parties intend to extend the lease, but disagree over the terms, often involving money and the amount of rent that will be payable. If no agreement is reached through negotiation, either party may begin court proceedings, which may prove to be both costly and time-consuming for everyone involved.
Disputes Around Commercial Lease Extensions
If a dispute surrounding the terms of a commercial lease extension should arise, it is essential to seek legal advice as quickly as possible. At Stirling Ackroyd Legal, we will act for landlords and tenants in contentious disputes. Our specialist commercial property lawyers have many years’ combined experience and will work with you towards achieving swift and effective resolution, ensuring that your commercial interests are protected throughout.
Should you wish to know more about the services we offer, please feel free to contact our client services department via our enquiries page, or give us a call 0203 058 3365.
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It is important to weigh up the costs and the benefits to any venture before you invest, and commercial property is no different. Although the residential properties are what usually springs to mind when investment is mentioned, it is important to consider that commercial properties also have their benefits.
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