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Stuart J
Stuart J, Solicitor
Category: Property Law
Satisfied Customers: 22624
Experience:  PGD Law. 20 years legal profession, 6 as partner in High Street Practice
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Hello If we enter into a commercial lease assignment outside

Customer Question

Hello

If we enter into a commercial lease assignment outside of the Landlord and Tenant Act do we need a break clause inserted into the Lease to allow us to get out before the term ends?
Submitted: 4 years ago.
Category: Property Law
Expert:  Stuart J replied 4 years ago.
Can we have full background please? Will landlord agree?
Customer: replied 4 years ago.


We dont know yet if Landlord will agree yet , we have placed a deposit and are just starting to negogiate the terms.


 


This is a assignment of a commercial Lease granted in 2010. The lease contracts out of the Landlord and Tenant 1954 sec 24 - 28. There is no break clause expressly provided for in Lease. It runs for twelve years.


I want to know if we can apply with Notice to get out of the Lease if commercially it proves not viable.

Expert:  Stuart J replied 4 years ago.


if it is an assignment of the
lease, then you are stuck with the lease as it is presented to you, unless the
landlord will agree to vary it. If he does agree to vary it, it should be done
by deed of variation. You are faced with negotiating with the landlord.

Unfortunately, if there is no
break Claus in the lease and the business does not work, you are stuck with the
lease until the end of the term, or until you get another tenant to take an
assignment from you.



You could set the lease up in
the name of a limited company, but the landlord may want a personal guarantee
from you in any event.



Can I help further?



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Customer: replied 4 years ago.


Thank you that was helpful.


 


 


I do not need any further assistance at present.


 


 


Kind regards


 


Kathleen

Expert:  Stuart J replied 4 years ago.

Glad to help.



If you need me. Again, please
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Meanwhile, this thread remains
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