Commercial Lease Renewals can be more contentious than Rent Reviews, as the rent and other terms can be determined by the Courts, if not agreed by negotiations. Also, Tenants have the chance of walking away from the premises.
Timing is Paramount
Timing is paramount since the rental value is based on the date of the Court hearing, as opposed to the lease expiry date. In a rising market, the Tenant should act proactively, and vice versa in a falling market.
Understanding of the Law
Lease renewals can be complex and are governed by Law. Therefore, a full understanding of the Law and associated case Law is essential. We advise on the tactics to be adopted, in conjunction with the Clients’ lawyer, to ensure our Clients gain the upper hand, whether by negotiations or litigation procedures.
Proven Track Record
We enjoy substantial experience in both none contested and contested Lease Renewals, which is where a Tenant wishes to renew and the Landlord is refusing a new lease. In some cases, the Landlord may offer a renewal and the Tenant may vacate, leading to end of term Dilapidations claims.
Specialist in the Market
Unlike a Rent Review, there are a host of other issues, apart from just the rent, which need to be negotiated. Such as the length of the lease, break clauses, covenants of the lease, rent-free period and ongoing dilapidation liabilities, to name but a few.
Technicolor and MPC have had the good fortune to be exceptionally well represented by The Lorenz Consultancy on numerous new lease transactions, Lease Renewals, and Rent Review negotiations over the past several years. Having personally worked with literally hundreds of Agents and Brokers worldwide, in my role as Head of Global Corporate Real Estate for several multinational corporations over my career, I can attest that Anthony Lorenz and his team are one of the best in terms of results, responsiveness, and value added. The strategic insights, market knowledge, and negotiations are often inspired, and always collaborative, and have consistently achieved outstanding results.
Meet our Lease Renewal experts
We understand how much your business means to you — please get in touch with us to see how we can help you.
Head of Lease Advisory