Lease Advisory
Our lease advisory team are here to help landlords, investors, owners and occupiers with all aspects of leases for commercial properties across the region.
Lease Advisory services covering the South West
Our lease advisory team are here to help landlords, investors, owners and occupiers with all aspects of leases and rent reviews for commercial properties across the South West. Leases can be complex so our priority is to give you the best advice we can, based on our expert knowledge of the law of leases as well as understanding the sector and market conditions.
Rental values, rent reviews and rent concessions are topics that we are frequently approached about. Our South West team of lease consultants are here to help you get the best terms on your lease so get in touch to see how we can help you save money and stress.
Whether you are looking for advice on an existing lease, thinking of renewing, ending or restructuring a lease or simply want to consult our team, you can count on us.
Whatever is agreed in your lease at the outset will remain enforceable throughout your lease period so it’s important to fully understand the responsibilities stipulated within your lease. There may be financial implications for you not just during the lease, but also if you end, renew or restructure the lease. When you work with Vickery Holman, you can rely on our team to negotiate the best rent and lease terms for you based on our technical expertise and local knowledge of market conditions. We have worked with hundreds of commercial property clients in all sectors, public and private, so we have the expertise, resources and reputation that you can trust.
Leases can be complex so our priority is to give you the best advice we can, based on our knowledge of the sector and market conditions. Sometimes, matters need to be resolved and our unrivalled reputation for property advice is reflected in the service we provide on third-party disputes on rent reviews and lease renewals. Vickery Holman has some of the most highly regarded experts in commercial property matters within our team.
We are the largest multi-disciplinary surveying firm in the South West with offices in Bristol, Exeter, Plymouth and Truro. Our lease advisory team is based across the region so please talk to us about your commercial property matters.
Our lease consultants specialise in:
- Asset management
- Rent reviews
- Lease renewals
- Full repairing & insurance leases
- Internal repairing insuring leases
- Lease restructuring
- Break options
If you would like to discuss any of these services further, please do not hesitate to contact us using the details below.
Key Contacts
Lease Advisory Case Studies
Lease Advisory FAQs
Is it too late to action a rent review?
Not necessarily. Whether a rent review can still be actioned will depend on the wording of the lease and whether time is expressly stated to be “of the essence”.
In many cases, a rent review may still be capable of being progressed even if the review date has passed. However, this needs to be checked carefully against the lease terms and any previous correspondence or negotiations.
If you have a historic or overdue rent review, we can review the lease, consider the relevant dates and advise on the options available.
What does “inside the Act” and “outside the Act” mean?
This usually refers to whether a commercial lease is inside or outside the security of tenure provisions of the Landlord and Tenant Act 1954.
If a lease is “inside the Act”, the tenant may have statutory rights to remain in occupation and request a new lease at the end of the contractual term, subject to certain grounds of opposition.
If a lease is “outside the Act”, the tenant will not usually have those statutory renewal rights and may have to leave at the end of the lease unless new terms are agreed.
This distinction can be important for landlords and tenants when negotiating lease renewals, planning future occupation or considering investment value.
I’ve started my rent review, but it has not gone well. Can you help?
Yes. We can become involved where a rent review has already started, including where negotiations have stalled, the parties are far apart, or a more formal strategy is needed.
We can review the lease, correspondence, rental evidence and the position taken by each party before advising on the best next steps. This may include negotiation, preparation of supporting evidence, Calderbank offers, or referral to a third party or independent expert where appropriate.
Early advice is helpful, but it is not necessarily too late to seek support once discussions have already begun.
What is a Calderbank offer?
A Calderbank offer is a settlement offer made “without prejudice save as to costs”. It is commonly used in disputes and negotiations, including some rent review and lease advisory matters.
The purpose is to encourage settlement while also protecting the party making the offer if the matter proceeds to a third-party determination or other dispute process. If the final outcome is less favourable to the other party than the offer made, the Calderbank offer may be relevant when costs are considered.
Calderbank offers need to be carefully prepared and timed, so it is important to take advice before using one.
What is the difference between a rent review and a lease renewal?
A rent review usually takes place during the term of an existing lease and determines the rent payable from a specified review date. The lease continues, but the rent may change in accordance with the rent review provisions.
A lease renewal takes place when the existing lease is coming to an end and the landlord and tenant are considering the terms of a new lease. This can involve rent, lease length, break clauses, repair obligations and other lease terms.
Both processes can have a significant impact on cost, value and future flexibility, so it is important to understand which process applies and what the lease says.
Can you advise both landlords and tenants?
Yes. We act for both landlords and tenants, although not on the same matter where there would be a conflict of interest.
For landlords, we can advise on rental value, lease renewal strategy, re-gears, break clauses, third-party referrals and protecting investment value.
For tenants, we can advise on rent review exposure, lease renewal terms, break options, occupational flexibility, restructuring and negotiation strategy.
When should I take Lease Advisory advice?
You should take advice as early as possible if you have a rent review, lease renewal, break clause, lease expiry, proposed re-gear or lease dispute coming up.
It is also sensible to seek advice before buying or selling a property subject to a lease, where lease terms and rental income may affect value, risk or future strategy.
Early advice can help you understand your position, avoid missed deadlines and make informed decisions before negotiations progress too far.
Can Lease Advisory advice help with investment property?
Yes. Lease terms, rent review provisions, lease length, tenant covenant, break options and renewal rights can all affect the value and performance of investment property.
Our Lease Advisory team can work alongside valuation, agency, investment, building surveying and rating colleagues to provide joined-up advice where lease terms affect property value, income or future strategy.
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