10 news/legal expert
Commercial leases – what is security of tenure?
Two questions often asked in connection with commercial leases are: ’What is security of tenure?’ and ’What is the effect of a lease being granted with or without it?’ Nicola Crookes-West, partner at Glanvilles LLP, explains how the 1954 Act can affect commercial leases
Security of tenure applies to most commercial leases over six months unless the provisions contained in Part II of the Landlord and Tenant Act 1954 (the 1954 Act) have been specifically excluded. It acts as protection for the tenant to prevent eviction at the end of the fixed term. In order to regain possession the landlord must serve a notice under the 1954 Act stating one or more of the grounds specified in the 1954 Act as to why they oppose the renewal of the lease. These grounds range from the landlord wanting to redevelop the property, to the tenant having a poor history in observing the covenants under the lease.
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What if I have a 1954 Act- protected lease and want a new lease?
The tenant can agree the terms of a new lease with the landlord. If negotiations fail the tenant can apply to the court for a new lease, which will be granted unless the landlord can show the court that one or more of the grounds for opposing the new lease apply. Alternatively the landlord can apply to court for the terms of the new lease to be determined or indeed for the termination of the current lease. It is important that tenants respond to and or serve appropriate notices and comply with time limits or they may lose their rights.
What if I want to end my 1954 Act-protected lease?
The 1954 Act allows a tenant to determine the lease at the end of the contractual term either by giving the landlord at least three months’ notice or by simply vacating before the end of the term. If the tenant is still in occupation of the premises at the end of the contractual term, the tenant can determine the tenancy at any time by giving the landlord three months’ notice.
What if my lease is excluded from the 1954 Act?
If your lease is excluded from the 1954 Act (and many leases are)
Campaign launched to support region’s mid-market
Accountancy and business advisory firm BDO LLP has turned its attention to the driving force behind much of the recent recovery – the mid-market of our economy.
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West Wing, Cams Hall, Fareham, Hampshire PO16 8AB Tel. (01329) 282841
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Previously, BDO produced the Central South Report, which looked at the performance of the top 150 companies in the region. But with the ’mighty middle’ driving business growth, BDO is putting the mid-market firmly on the map.
Defining the mid-market as companies with £10 million – £300m turnover, during the next six months BDO will reveal some of the best performing South Central mid-market companies in each of three categories: international activity, growth and innovation.
The launch was marked last month by a private lunch hosted by BDO for 14 of the most senior members of the region’s leading banks, law firms and other influential bodies.
Malcolm Thixton, partner and head of BDO in Southampton, outlined the importance of the mid-market to the region: “Quite simply we see mid-market companies as the Central South’s best chance for sustainable and dynamic growth. In our region the mid- market may only represent 9% of companies, but it employs 45% of the workforce and generates 48% of the region’s revenue. These medium-sized businesses are big business. They tend to be amalgamated with smaller companies in the term ’SME’, yet their needs are very different which is why it is important to look at them separately.“
Ian Workman, head of South West region for Barclays Mid Corporate, commented during the launch: “In our experience, some clients feel there is a lot of external support for micro-businesses up to £2-3m, and for the largest of companies that employ a lot of people, but the mid-market in comparison is overlooked.“
THE BUSINESS MAGAZINE – SOLENT & SOUTH CENTRAL – MAY 2014
your lease will automatically come to an end on the last day of the contractual term. If the tenant wants to stay in occupation they will have to agree terms with the landlord in advance of the end of the term either by signing a new lease or entering into an agreement for lease.
Details: Nicola Crookes-West 01329-282841
nicola.crookes-west@
glanvilles.co.uk www.glanvilles.co.uk
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