Make Sure You Get Your 'Act' Together
Subject to some limited exceptions, most commercial leases within England and Wales can be divided into two categories – those benefiting from the security of tenure provisions in the Landlord and Tenant Act 1954 (‘The Act’) and those that have expressly been excluded from The Act.
Beware of any ‘funnies’ in a lease - it is definitely no laughing matter
During rent review negotiations, the rent review clause within the lease will dictate what the parties are to assume ‘hypothetically’ at that particular date. There will usually be common assumptions (vacant possession for example) and common disregards (tenants occupation for example).
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