Our lease advisory team are here to help landlords, investors, owners and occupiers with all aspects of leases 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.
Lease Advisory for Owners & Landlords
Lease Advisory for Occupiers & Tenants
About Lease Consultancy
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. Our Head of Dispute Resolution, Nick Holman, is an RICS Panel arbitrator and independent expert who regularly receives appointments to resolve issues such as rent reviews from the president of the RICS and directly from parties in dispute.
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.
Frequently Asked Questions
What is a commercial lease?
A commercial lease is a contract between two parties to grant the right to use land or buildings. The terms of the contract can vary greatly, and both sides are legally bound by them. Do not get caught out by unintended or unfair conditions but seek specialist advice instead. If the terms cause problems or need action a lease advisory specialist can help.
What is a rent review?
A rent review is a right included in most commercial leases for the rent to be adjusted at periodical intervals. They are almost always for the benefit of the landlord not the tenant as in most cases the rent can only go up not down. The landlord must prove market rents have risen to secure an increase and the legal wording of the lease contract can cause complications. The process can cause conflict if not dealt with correctly and it is important to seek specialist advice.
What is a lease renewal?
When most leases come to an end, the tenant is protected by law and has the right to a new lease. The process triggers a negotiation of what the new lease terms and rent should be to reflect market conditions at that time. There are exceptions where the parties have agreed to exclude protection and some limited circumstances when a landlord can overthrow the protection, for instance if the property is to be redeveloped. The process is complicated, legally binding and contains pitfalls. Both parties need specialist advice to ensure they protect their rights and the process is followed correctly according to the law.
How do I get a lease restructure?
There is no right for either party to change the terms of a lease or restructure except at the end of the lease. To reach an agreement to do that early needs a negotiating lever or joint advantage to both parties. For example, landlords may agree to reduce the rent if the tenant commits to stay for longer in return or a tenant may threaten to activate a break clause unless the landlord will cooperate. Success will depend on seeking specialist advice to identify and apply these options.
What is a landlord responsible for in a commercial lease?
In most commercial leases the terms seek to limit the landlord’s day to day responsibilities as much as possible. The onus is placed on the tenant to repair and look after the property and comply with any restrictions that have been agreed. There are exceptions such as multi occupational buildings where the only practical option is for the landlord to take responsibility and recover the cost by a service charge. It all depends on the exact terms of the contract that specialist advice can clarify.
How do I make sure a break clause works properly?
Break clauses have become more common in recent years mainly to give tenant’s flexibility in uncertain and rapidly changing economic times. There are dangers as time limits and conditions must be strictly complied with. They can also be a useful method to trigger a restructure of the lease. There may be a financial penalty to pay. It is important to use specialist advice to know when and how your break option can benefit you.
“Helen recently acted for us on a lease renewal for a Telecoms mast sited on our land in Gloucestershire. We were unable to identify a surveyor nearby and were finally referred to Vickery Holman, where we were pleased to find that their Truro office has a telecoms advisor. Having that specialist knowledge gave us the confidence that we were entering into a new lease on the best possible terms. We are very pleased with the outcome achieved by Helen and feel the renewal process was sped up by having her involved.”
Ms A Wiltshire – Constellation Cold Logistics UK2 Ltd
“Vickery Holman acted for us in dealing with some outstanding rent reviews from 2018 and 2021 on two industrial premises we own in Cornwall, securing an increase on both. As landlords, securing rental increases is always a positive thing, but being able to collect a substantial sum for backdated rents is an added benefit towards future investment.”
Ms K Barker – Lunamar Group Ltd
“Vickery Holman acted for me in the lease renewal on an industrial premises I rent in Cornwall. Having someone to take the reins on a legal matter I was unfamiliar with was helpful in itself, but they were also able to negotiate changes to some of the terms of the lease which will be of great benefit to me in the future.”
Mr G Adams – County Electrical Supplies
The Team for Lease Advisory
Case studies for Lease Advisory
Rent Review – Formal Business Park, Camborne, Cornwall Vickery Holman has recently undertaken the Rent Review of a 13,500 sq ft industrial unit and have managed to achieve a saving for the tenant of £40,000 per annum from the Landlord’s Trigger Notice. The Lease Consultancy Team here at Vickery Holman is more than happy to […]
Lease Renewal – Ground Floor, Argosy House, Plymouth Vickery Holman has recently undertaken the lease renewal of the Job Centre at Argosy House. The new 10-year lease was agreed at a new rent of £10.50 per sq ft. This is a new high rent that has been achieved within the building and shows the increasing […]
Vickery Holman has recently undertaken both an outstanding on a Veterinary Practice rent review in Brixham, Devon on behalf of the Landlord. This rent review was unusual as the tenant was in the process of assigning their lease, and therefore we were in contact with both parties as negotiations proceeded. It was settled quickly, which allowed the […]
Vickery Holman have successfully negotiated a nil increase for a nursery occupier where the Landlord was looking to increase the rent circa 15%. Acting for the Tenant, the team here at Vickery Holman were able to use their expert knowledge within the specialist D1 use sector allowing us to provide evidence to support that the […]
Lease Renewal – First-Floor Office Space, Threemilestone, Cornwall Vickery Holman has recently undertaken a new lease and a first-floor office space at Green Court in Threemilestone. The new lease was mutually beneficial to both Landlord and Tenant with flexible break options, taking into account the ongoing trend and uncertainty over Brexit. The new high rent […]
Lease Extension Lease extension consultancy and lease reviews remain a key service for Vickery Holman. The lease advisory team has recently undertaken a new 10-year lease extension of Howden’s in Dartmouth, Devon, ensuring that the Landlord now benefits from 12.5 years of Howden’s occupation. In undertaking this, Vickery Holman has also achieved a new high […]