At Gepp Solicitors, we have a range of fee-earners with extensive experience that make up a specialist team that can guide you through the entire commercial leasehold process. Our proactive, client-centred approach will ensure that we carry the burden of the lease process, whether it is the granting or taking of a new lease, the assignment of an existing lease or any of the other related services that we offer, so that you can concentrate on your business.
The solicitor acting for you will be your dedicated point of contact throughout the matter so that should you have any queries or concerns during the process, you can obtain the answers and advice you need from the person who is always most familiar with your business and its needs. With our team in your corner, you will get practical and commercial advice at every stage of the transaction, with a focus on operational flexibility and cost control.
Our extensive expertise includes, but is not limited to, the following:
- Assignment of Existing Leases
- Agreements for Lease
- Break Clauses
- Drafting & Negotiating New Leases
- Heads of Terms
- Lease Variations
- Landlord's Licences
- Recovery of Rent Arrears
- Rent Deposits & Guarantees
- Rights & Liabilities when Acquiring/Disposing of a Business
- Security of Tenure
- Stamp Duty Land Tax (SDLT)
- Surrender of an Original Lease & Re-grant on Varied Terms
- Surrender of Leases
A few recent projects that our team have been involved in are:
- A new 10-year Lease of an industrial warehouse at £80,000pa to be used as a head office, together with an associated 5-year underlease for an established local furnishing supplier;
- A new 10-year Lease of a fitness studio, including a Rent Deposit Deed and Licence for Alternations for a new start-up company;
- A new 5-year Lease of a retail unit in High Chelmer shopping centre with an associated Licence for Alterations;
- The renewal of a 10-year Lease of a Barber shop in Brentwood;
- The Assignment of a Lease of a car wash site in Clacton-on-Sea together with an Authorised Guarantee Agreement;
- The renewal of a Lease of an industrial warehouse in Brentwood together with a Dilapidations claim and Schedule of Condition;
- Advice in relation to forfeiture of a Lease where tenants had removed fixtures and fittings;
- The Granting of a new Lease of a Chelmsford restaurant and public house; and
- The Assignment of an Essex pub Tenancy; and
- Variation of a long-term commercial Lease for a Health Care practice to wider the user and alienation provisions.
As you can see from the list above, Gepp Solicitors is well-placed to advise you and your business in relation to all aspects of leasehold property.
Frequently Asked Questions (FAQs)
1. What is the first step in taking or granting a new Lease?
You need to consider the basic terms of the agreement and seek to agree these with the other party in principle. To help you, have a look at the diagram on our Heads of Terms page which will give you examples of some things to think about.
2. How much can I expect to spend?
In our Commercial department, all work is carried out at each individual fee earner's hourly rate. We have a pyramid structure which ensures that all work is carried out at the appropriate level and at the appropriate fee, with more junior fee earners being supported by senior fee earners where required.
3. What is the difference between a Lease and a Licence?
The title of the document is irrelevant and it important to ensure that the terms within the document reflect what you are trying to achieve. Generally, a Licence is a short-term agreement which is non-exclusive and can be terminated on short notice. A Lease is longer, carries more security and will provide for exclusive possession. A Licence can also be a Landlord's Licence which records the Landlord's written permission for the Tenant to do something in particular, such as make alterations.