Hello and thank you for your question. I will be very pleased to assist you. I'm a practicing lawyer in England with over 10 years experience.
May I ask if the landlord has given any particular reason for wishing to exclude part II protection please given his apparent readiness to give you a some form of limited right to renew?
There is a potentially very simple approach you could propose which would be that you simply negotiate a longer lease - say 15 or 20 years in length with further one way break clauses in your favour.
This would give you the certainty of a longer lease with the reassurance that you can get out of it at set intervals if you wished to do so.
The alternative would require some very complex and in my view wholly pointless drafting because what your landlord seems to be proposing is excluding part II of the act on the one hand and with the other giving yyou a form of personal right (limited or not) to renew the lease.
This does not appear to make much sense but if you decided to run with it would present a fearsome negotiating and drafting exercise as you would both essentially be engaged in a process whereby you effectively were re writing Part II of the Act as a personal right within your lease. This begs the question if he is going to give you effectively personal rights under the lease akin to part II of the Act why not just include part II in the first place?
To my mind there are three practical options: 1) insist on the inclusion part II protection; 2) provide for a length of lease you are comfortable with along with break clauses or 3 include an option in the lease that you may renew the lease on substantially similar terms to the Lease on or before the expiry of the Lease and provide that such right is assignable to third parties.
However regarding 3) this is akin to and arguably provides even greater protection than part II so whether the landlord would be willing to agree to such a provision would be questionable - in deed surprising.
Re your last post - I have proposed three options - to which do you refer please?
Thanks. If you were to be able to include an assignable personal option to renew the lease then this is a personal (assignable) right you could personally exercise in lieu of part II protection providing your solicitor is satisfied with the drafting. It potentially would give even greater protection than part II as part part II can be resisted in certain circumstances (e.g. if the landlord wishes to redevelop) so I cannot see why the landlord would wish to agree to this but it would serve to give you the protection you seek.
Some landlords will not agree to part II protected leases - more common these days than in the past. This is not suitable for all tenants and ultimately if you cannot agree terms that you are satisfied with you need to consider whether to walk away. To my mind part II protection is more striaghtforward for both of you rather than some form of customised personal option to renew the lease (as per 3 above) but if you are both willing to incur some additional potential legal costs renewal option could be considered instead.
Are you happy with the information I have provided to you above or is there anything above I can clarify for you any further?
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Good luck with your ongoing negotiations