I am a commercial landlord having multiple industrial units and tenants. I have ongoing requirements for legal work as tenants naturally change their occupation of units with me.
I currently require an edited lease for my tenant Brookhampton who already has a lease on half of my main building, (units 1-5), they wish to take all the remaining space in the main building (units 6-10), meaning they will now have all of the main building, i.e. units 1-10.
In order to make things simple and all under one set of terms, we wish to scrap the current lease they have for units 1-5, and replace it with a new lease for units 1-10. The terms of this lease will be identical to the current lease other than the following simple changes:
Lease to reflect occupation of entire building rather than half of the building. Annual Rent: £115,000, increasing to £118,450 from 1st March 2025. Lease Duration: 10 years from 1st September 2025. Break Clause: Option to reduce occupied space by 30% on 1st September 2031. Brockhampton will cover all associated separation and service installation costs for the separated unit. Rent Reviews: Scheduled for 1st September 2028, 2031, and 2034. Deposit: Amount Payable: £6,860, bringing the total deposit on Eden Park to £20,000.
I have attached the current lease, the rent deposit agreement we have in place, and the lease plan.
At this stage I simply require the new lease to be edited from the old (through to being executed), along with the update to the deposit agreement, and then moving forward I will need ongoing legal services as stated above. A completely new lease is not required, as I already have invested in a bespoke lease for the business park. The successful lawyer must be fully qualified and experienced in commercial leases in the UK, and be UK based.
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