The renewal of a lease gives an opportunity for both landlord and tenant to consider their interest in a property. This area of property transactions is complicated by statute, case law and procedure. Drew Pearce’s professional team have a wealth of experience acting on behalf of both landlords and tenants in lease renewal situations. It is important for both parties to take early advice in respect of rental values, length of lease, redevelopment/refurbishment and often the likely strength of the position of the other party.
It is an opportunity for tenants to negotiate a differing length of term, perhaps with the inclusion of a break clause and for the landlord to modify an existing lease in order that recent statute and drafting developments can be incorporated into a new agreement.
Working hand-in-hand with solicitors to extract the best settlement for either party, Drew Pearce are well placed to advise both landlords and tenants.
Our fees are often agreed on a performance basis working closely with the client to achieve the best outcome.
In the event that agreement is not reached by negotiation we offer significant experience in Expert Witness work for Courts, Arbitrators and Independent Experts on lease renewal disputes.
When considering a lease renewal, tactics and timings are vital and both parties are advised to take early advice.
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