Reasons to choose Wilson Browne
Does your Commercial Property Lease contain a break clause?
In the latest LinkedIn poll run by partner Tom Warrender, it was revealed that alarmingly 50% of those who took part did not know whether or not their commercial property lease contained a break clause!
38% were clear as to when the break date (s) is and the mechanisms for exercising the same, whilst the remainder of those who took part felt they “sort of” knew the dates and mechanisms, but “could do with a refresher”.
Whether you are a landlord or tenant entering into a commercial property lease, it is imperative that you take legal advice. Specifically with the issue of break clauses, it is important to know the dates that they can be exercised (whether they are fixed or rolling break dates), whether it is both parties or just one party that can exercise the break, the notice period that needs to be given, and any other requirements that need to be complied with.
Even after the lease is completed and in place it is equally important that you fully understand the mechanisms for exercising the break and the dates by which you need to serve notices etc.
Our Legal 500 recognised commercial property team here at Wilson Browne Solicitors have a wealth of experience acting for both landlords and tenants in commercial property lease matters. Whether you are in the process of agreeing a new lease, or simply want a refresher on your existing lease then our team are All The Help Need You Need.