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Commercial property lease – the dangers of not taking legal advice

Commercial property lease – the dangers of not taking legal advice

Commercial property lease – the dangers of not taking legal advice There are lots of costs involved for a tenant when considering taking a commercial property lease – you might be paying a premium, a rent deposit, and may also have agreed to pay a contribution towards...
Rent Review – how does it work?

Rent Review – how does it work?

Rent Review – how does it work? This article on Rent Review is the third in Herrington Carmichael’s series of articles explaining the importance and impact of specific clauses in commercial leases. Commercial leases usually contain rent review provisions, which allows...
Rent Review provisions in Leases

Rent Review provisions in Leases

Rent Review provisions in Leases The recent case of Monsolar IQ Limited v Woden Park Ltd demonstrates the importance of careful drafting in leases. In this case, the High Court had found that an indexation clause in a rent review provision should be corrected by...
Commercial Lease: Do I need a Schedule of Condition?

Commercial Lease: Do I need a Schedule of Condition?

Commercial Lease: Do I need a Schedule of Condition? A lease of a commercial property is often a full repairing and insuring lease (an “FRI lease”), meaning the tenant takes on the full costs of repairing and insuring the whole of the property, including the...
Reasonable Endeavours and Heads of Terms

Reasonable Endeavours and Heads of Terms

Reasonable Endeavours and Heads of Terms The recent case of Brooke Homes (Bicester) Ltd v Portfolio Property Partners Ltd & Ors demonstrates the importance of careful drafting in pre-contract documents. In this case, the Seller (Portfolio Property Partners) fell...
The Latest on the Leasehold Reform

The Latest on the Leasehold Reform

The Latest on the Leasehold Reform The Leasehold Reform (Ground Rent) Act 2022 (“the Act”) received Royal Assent on 7th February 2022 and forms a much-awaited part of the government’s wider reform of leasehold law. The Act will apply to ground rent provisions in new...