(incl. rent reviews, renewals & regears)
The typical commercial lease provides the rules and regulations by which both landlords and tenants must abide throughout the duration of the contract. There will be obligation incumbent on both parties and in all cases critical dates, whether they be rent reviews, termination dates, break options or options to extend. Opportunities may arise thought the course of the lease agreement for either party to use these critical dates to their advantage, depending on market conditions such as the removal of break options, regearing, the lease terms to suit particular circumstances and simply extending leases where occupational needs demand.
This should not necessarily be seen as an adversarial situation between the landlord and the tenant as in most cases restructuring in the manner identified above usually confers benefits to both parties. The experienced team within FG Burnett can advise on leasehold obligations, the strategy to be looked at when lease restructuring from both a Landlord and Tenants point of view and also an overview of asset management opportunities either in single property holdings or portfolios.
Key amongst the events common with commercial leases is the procedure of rent review. The general intention of the rent review clause is to ensure the rent is at market level at a certain date. The process however is far from straightforward and has been the focus of much legal debate relative to the interpretation of the review provisions and leases in general. Our rent review team can guide you through the murky waters of the process to ensure best results whether landlord or tenant.
You can take comfort in the fact that the majority of our rent review experts are either Associate, Member or Fellow of the Chartered Institute of Arbitrators, the professional body for dispute resolution, and sit on the Royal Institute of Chartered Surveyors Scotland Chairman’s Panel of Independent Experts and Arbitrators.
Our expertise is undoubted.