renewing lease

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  • renewing lease

    Hello once again you better informed than I am people. I once again need some advice.

    Our commercial property lease which is a non assignable lease is coming up for renewal. The tenant has indicated that he wishes to renew the lease despite trying in vain to sell the buisness for a number of years without success and suspect he wishes a renaewal for a means to an end. In order to renew the lease do we need to instruct a solicitor or can we just go ahead by issuing a section 25 notice and continue as before. If the latter being the case, would we be able to negotiate new terms and conditions including a rental increase?

    Hope this makes sense and thank in anticipation of your reply.

    uninformed.

  • #2
    Lease Renewal

    The section 25 notice puts the tenant on notice that the lease is coming to an end and indicates if you are willing to renew, or if you will oppose renewal on the varoius grounds.
    It seems you are willing to renew, so you should serve the notice at the appropriate time and enter into negotiations with your tenant re length of lease renewal and rent etc.
    You will need to instruct your solicitor to renew the lease - if new terms are involved they will need be agreed and incorporated.

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    • #3
      s25

      Your new Heads of Terms terms must now be sent with the section 25.

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