Negotiating a Commercial Lease
Our Commercial Property Department is one of the busiest in Coventry and across Warwickshire.
By instructing us, you can be confident that we will advise you on achieving the best terms for your commercial lease and negotiate hard to ensure your best interests are protected.
We are a diverse, multi-lingual law firm that uses best-in-class technology to provide clients with streamlined, modern, and highly effective commercial property law advice and representation. Our years of experience in commercial property law means we have a robust reputation for excellence with the UK’s best Barristers and King’s Counsel, Estate Agents, Independent Financial Advisers, Surveyors, and Lenders who can bring additional support to our Commercial Property Department if needed.
Below are some common questions we are asked about commercial lease negotiation.
As a tenant, can I negotiate the terms of a commercial lease?
Absolutely. Naturally, the landlord would have drafted terms that benefit them (or ‘it’ if the landlord is a company). Your negotiating leverage will depend on the commercial property market at the time. If there is a glut of commercial space in your area and landlords are struggling to find good tenants, they are likely to be willing to negotiate terms favourable to you such as break clauses and service charges. However, if there are too many tenants wanting a certain type of commercial property (for example, following the Covid-19 pandemic, warehouse space is in high demand) landlords are not motivated to be as flexible.
What matters when choosing a Commercial Property Solicitor is their experience, not only in the law but also in the local area. We have extensive knowledge of Coventry and Warwickshire and over the last 30 years have built solid relationships with local estate agents. Our team can advise you on current trends and what points may be negotiable in your lease based on the local commercial property market.
What is Security of Tenure?
Under the Landlord and Tenant Act (LTA) 1954 provided the below conditions are met, you will have a statutory right to a lease renewal at the end of the contractual term. Furthermore, the terms of the renewal must be broadly similar to the existing lease. This is known as ‘Security of Tenure’.
To qualify for Security of Tenure you must:
- Have a tenancy and that tenancy must relate to the premises.
- The premises must be occupied for the purposes of a business which is carried out by you.
- Have a tenancy that does not fall under the specific exclusions stated in the LTA 1954.
It is possible to contract out of the Security of Tenure provisions. To do so the landlord must serve notice to you on a prescribed form that explains the risk of contracting out. You must then sign a statutory declaration in front of your Solicitor, acknowledging that you have received notice from the landlord and understand the consequences of forgoing security of tenure. Our Commercial Property Solicitors can advise you on the risks and benefits of contracting out of Security of Tenure so you can make an informed decision based on what is best for your business.
Why choose us?
Whether you require warehouse, retail, manufacturing, or office space, entering into and negotiating a commercial lease can seem stressful and overwhelming. With the right professional advice, it does not have to be. Our Commercial Property Solicitors will look carefully at the proposed terms of your commercial lease and negotiate any changes you want to make after we have advised on the impact of certain clauses. We will make sure securing your commercial tenancy and achieving favourable terms for your business is as stress-free as possible and will keep you updated each step of the way.
We are proud of our personal service to all our clients and where possible we are always available by phone and will respond to your email within 24 hours. As a full-service law firm, we can also provide advice on other commercial matters such as contracts and dispute resolution.
We will leave no stone unturned when handling your commercial property transaction. Each member of our team has the experience and resources available to ensure that every aspect of your lease agreement negotiations that requires attention will be spotted, brought to the fore, and managed. You can trust us to provide the commercially-astute advice you need to protect your interests.
Our Solicitors are businesspeople themselves; therefore, we understand that every decision you make must encompass commercial reality. We receive most of our instructions via word of mouth recommendations because business owners in the West Midlands know that we have the knowledge and dedication required to ensure they can negotiate the best commercial lease terms.
We are focused on results and achieving them in the swiftest, most cost-effective way possible. Our Commercial Property Solicitors will take care of your legal concerns so you can concentrate on your organisation’s future growth and prosperity.
To talk to us about negotiating a commercial lease, please contact us using the form below.
Meet your 'Negotiating a Commercial Lease' specialists
Based in our city centre offices in Coventry, here’s our team to guide you through your legal needs.
Depending upon the complexity we are able to offer fixed fees in some cases. In other cases our solicitors charge the following hourly rate:
- Partner/Member SolicitorHourly rate of £265 + VAT
- Senior Solicitor or Head of Dept: (PQE 8yr+)Hourly rate of £240 + VAT
- Assistant Solicitor/Fee Earner (PQE 3/7yr)Hourly rate of £215 + VAT
- Newly Qualified Fee Earner (PQE 1/3yr)Hourly rate of £185 + VAT
- Paralegals/TraineesHourly rate of £135 + VAT
- Support ParalegalsHourly rate of £115 + VAT