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Lease Review - See if you can make changes

Business owners have never experienced such challenging times. COVID has changed how we all operate, both personally and in business. Therefore, we would strongly recommend commercial tenants review their lease agreement.

Reviewing your lease could allow you to operate your business more effectively. 

Recently for example, restaurants and pubs have been offering takeaways. Equally, service providers have been reducing their office space as an increased number of employees continue to work from home. 

This is great and has allowed many businesses to not only survive but thrive. By having your lease reviewed by a property lawyer, you can ascertain if you could do the same.

Summary Lease Review

Attwells offer a Summary Lease Review for £599 plus VAT. Your lawyer will review your lease upon payment. We aim to review your lease within 72 hours, offering recommendations in a formal letter. This will give you the option to instruct Attwells to negotiate new terms with your landlord or for you to pursue the matter further. 

If you have a business plan, it would be useful to submit this too, as it would help your lawyer consider your future needs. 

Full Commercial Lease Service

This service includes the assignment of an existing lease. 

Time scales: 6 to 8 Weeks relying on 3rd parties

Fixed Fee

  • Up to £30,000 p/a Annual Rent - £1,699 + VAT.
  • For every additional £10K of rent £110 + VAT legal fee 
  • Price on application over £100K per annum

Packages

 

Annual Rent up to £30k

Annual Rent above £30k + £100 + Vat per £10K rent

Lease and Rent Deposit Deed

£1799 plus VAT

£1899 plus VAT

Lease and Licence to Alter

£1899 plus VAT

£2049 plus VAT

Lease, RDD, and Licence to Alter

from £2149 plus VAT

from £2249 plus VAT

Agreement for Lease, Lease, RDD and Licence to Alter

from £2649 plus VAT

from £2749 plus VAT

Separate add-ons

  • Rent Deposit - £599 + VAT
  • Licence to Alter - £799 + VAT
  • Agreement for Lease - £1199 + VAT
  • Granting an Underlease - £599 + VAT
  • Taking an Underlease - £799 + VAT

Lease Ancillaries

 

Acting for Landlord

Acting for Tenant

Deed of Surrender

£1099 plus VAT

£879 plus VAT

Licence to Assign

£1649 plus VAT

£1209 plus VAT

Licence to Underlet

£1649 plus VAT

£1209 plus VAT

Deed of Variation£1099 plus  VAT£879 plus VAT

Additional Fees

 

Acting for Landlord

Acting for Tenant

Additional Purchase Item 

£250 plus VAT

N/A

SDLT Form Fee

N/A

£95 plus VAT

TT Fee (per transfer)

£40 plus VAT

N/A

ID Fee (per person)£10 plus VATN/A

Disbursements

 

Acting for Landlord

Acting for Tenant

Land Registry Official Copies

£30

N/A

Searches (Money on account)

N/A

£550 to £750 plus VAT

Land Registry Registration fee

N/A

Dependent on the market value

Final SearchesN/A£25 plus VAT

What will we be looking for when reviewing your lease?

Room to Grow: Your lawyer will review your lease to see if the premises you lease allows your business enough room to grow. Reviewing or having a three or five year business plan will help you consider possible requirements. Your solicitors will be able to help you factor these into any agreement. 

Longevity: Typically, commercial leases are five or more years. However, due to COVID this may be no longer appealing. Your lawyer will therefore review your lease for sub-letting clauses, possible early termination loopholes or payment holidays.

User Clause: Depending on your business type or the sector your business operates in you may require some flexibility in the services you can offer. A user clause could prevent you from diversifying your business. Your lawyer will see if such a clause is within your lease and suggest ways you could overcome it. Alternatively, your lawyer can also confirm one does not exist, therefore you could freely change your business operations. 

Who will do my work?

Your matter will be undertaken by one of our Commercial Property Solicitors: Nick AttwellMatthew DesboroughJoseph Harrison, Phillip Hewett or our Trainee Solicitors under the supervision of Nick Attwell.

How long will it take?

For a Summary Lease Review, we take 72 hours. A Full Commercial Lease Review varies depending on the complexity of the lease being reviewed however, we aim to review your lease with 6 to 8 weeks.