Negotiating heads of terms in Commercial Lease agreements

Negotiating heads of terms in Commercial Lease agreements

Posted by Emma Daniels, on February 26, 2020. Tags: , ,

We were approached by a Landlord of a commercial property that was in the process of refurbishment. The terms of the lease included the Landlord providing refurbishment work, alongside the Tenant’s fit out work. Because both of these would be carried out together, it was increasingly difficult to agree on a fixed date for the commencement of the lease agreement.

In addition to the lease agreement, our client had also given the Tenant a loan for the fit out work. This loan would be paid off in line with the lease. This added a complication to the matter when the Tenant’s solicitors wanted to ensure that the Tenant was safeguarded in the agreement and had changed the head of terms on the original lease agreement several times, which Emma’s client did not agree to.

Thanks to our perseverance in discussing and resolving the issues raised by her client with the client’s agents and surveyors, we were able to get quickly get both parties to agree to a lease agreement that worked in both of their favours, ensuring that the remaining refurbishment work could be carried out to the proposed time scales with as little disruption as possible.

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