Key Takeaways An institutional lease is a commercial lease drafted on terms that institutional investors find acceptable, designed to deliver secure, long-term income. The classic

Key Takeaways An overriding lease is a new lease a former tenant or guarantor can demand after being made to pay a defaulting current tenant’s

Key Takeaways A schedule of condition is a dated written and photographic record of a property’s condition, usually taken at the start of a commercial

Key Takeaways With commercial property the principle of buyer beware applies, so the responsibility to investigate sits with you, not the seller. Due diligence covers

Key Takeaways A licence to alter is a formal legal document granting a commercial tenant permission to carry out specific works or alterations to a

Key Takeaways The Landlord and Tenant Act 1954 gives most commercial tenants a statutory right to renew their lease at the end of the term.

Key Takeaways In commercial leases, service charges are primarily governed by the terms of the lease itself. There is no statutory cap or equivalent residential

Key Takeaways An alienation clause in a commercial lease controls the tenant’s right to transfer, sublet or otherwise deal with their interest in the lease.

Key Takeaways: Dilapidations are breaches of the repair and maintenance covenants in a commercial lease, typically assessed at or near the end of the tenancy.

Key Takeaways Assignment of a commercial lease transfers the tenant’s rights and obligations under the lease to a new party – the assignee. Most commercial