Just because your Lease is for a set period ending on a specific date, it does not necessarily mean that you need to vacate the premises when the Lease expires. The key question is whether your Lease has the benefit of the Landlord and Tenant Act 1954. If it does then if you occupy the premises for your business the law allows you to ask your landlord for a new lease on reasonable commercial terms, and with a few exceptions the Landlord must grant you a new Lease.
How do I know if my Lease is protected by the 1954 Act? The short answer is that all business Leases have the benefit of the 1954 Act unless there is express agreement to the contrary.
How do you find out whether there has been agreement to exclude the Lease from the protection of the 1954 Act? Usually there is a reference within the Lease to the Act being excluded, and also, for the exclusion to be valid, the original tenant must have made a formal declaration acknowledging that they were served with a notice warning them of the exclusion before they signed up to the Lease. For leases that are older than 10 years there may well even be a court order permitting the Act to be excluded.
So before you start planning to quit your premises when the Lease expires, consider your options and look to see if you could benefit from the Landlord and Tenant Act protection.
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The information provided in all of our blogs reflects only a narrative of some elements to consider on the topic. The blogs do not contain considered legal advice and should not be relied upon as advice. Please see our website terms and conditions for full details of our disclaimer. If you are interested in obtaining advice, please contact one of our lawyers who will be happy and able to advise you on your own particular circumstances.