We can handle the transfer of existing commercial leases and the granting (or taking) of new leases. As for residential leaseholds, the transferring of leases is broadly the same as the transferring freeholders, but there is an extra party (the landlord) involved, and the terms of the lease need to be considered carefully to check on the responsibilities of the tenant – both for the incoming tenant, who will be taking over direct responsibility for them, and for the outgoing tenant, who will almost certainly be expected to guarantee the incoming tenant’s compliance in the future.
Statutory controls and protections for commercial tenants are more limited than for residential ones, so the precise terms of the particular lease in question are all the more important.
Questions and further advice
If you have any questions on commercial leases, please speak to Malcolm McLaren on 01580 767100 or email him at Malcolm@Nelson-McLean.co.uk