Kingsley Napley’s established Real Estate team has acted for landlords and tenants for many years, building up considerable knowledge in this area.
Our team advises both landlords and tenants in relation to agreements for lease (including pre-lets), leases, re-gearing of leases assignments; licences, authorised guarantee agreements, rent deposits and surrenders.
We also advise on a variety of potentially complex issues including:
- The interpretation of leases e.g. rent review clauses and service charge provisions
- Tenant insolvency – rights and remedies
- Exercising break clauses
- Lease renewals under the Landlord and Tenant Act 1954 together with any tactical considerations
In our experience, the more you can agree in the heads of terms, the faster the transaction will proceed. By instructing a solicitor at the outset whilst negotiating the heads of terms they are better able to highlight any key points and apportionment of risk. This will ensure the heads of terms strike a fair balance between the parties and the transaction proceeds more quickly.
The team also advises clients on any reconfiguration of their clients' occupational requirements, whether divesting themselves of space or seeking new space. By ensuring our clients know that they are in safe hands, they can concentrate on running their own business.
Tenants – Things to think about
- Term (or length) of the lease to be entered into
- ’54 Act implications
- Break clauses – flexibility and impact on rental levels
Whilst these points give food for thought they are not the complete picture and you should speak to one of the team for specific guidance based on your commercial requirements. You may also find the two blogs below of interest:
Landlord – Things to think about
- Security / covenant strength
- Investment value
- Tenant ‘mix’ in the portfolio / location
- Clean investment – preservation/enhancement of value
- Insurance issues
"Both Neil and Paul worked tremendously hard to take the lead and cut through an immense amount of detail in a very short period of time, as we were under pressure from the landlord to close a deal. I particularly valued highly their thoroughness, their ability to synthesise key contractual points that facilitated decision making, and their pragmatic advice."
Real Estate client