Agreement for lease - commercial property

Common scenarios for agreements of lease

Planning

Either the landlord or the tenant may require a particular planning permission for the use intended by the tenant. The agreement for lease will contain provisions regarding obtaining these and once that has been obtained that then triggers completion of the lease

Building works

The parties may only agree to enter into a lease once certain building works have been carried out, this can range from the construction of the property to minor fitting out works required by the parties. Completion takes place once the works have been completed.

Purchase

The prospective landlord may not yet own the property that is to be let but wants the security that once it has been bought it will be occupied by the tenant. In this scenario completion of the lease will be triggered by the purchase of the property by the landlord.

Obtaining vacant possession

This is the scenario where the landlord already has a tenant in occupation but that tenancy has yet to come to an end and the landlord has found another prospective tenant willing to take a lease of the property. The landlord, in order to have the security that once they have obtained vacant possession they will not have an empty property may enter into an agreement for lease with the prospective tenant conditional upon the landlord obtaining vacant possession.

This is a general overview of the matters that can be raised when dealing with an agreement for lease, if you would like to speak to a member of our commercial property to discuss your situation please call us on 01616 966 229 and our team would be happy to provide further and more detailed guidance.