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...
What is an option agreement? An option agreement is where a prospective buyer enters into an agreement with a landowner for the right to buy their land/property, often paying the landowner a sum of money as an option fee. The prospective buyer then has the option...
Assignment of Lease and Authorised Guarantee Agreement (“AGA”) Commercial Property A tenant who wants to assign (transfer) a lease must check its terms to see whether or not this is permitted. Usually the assignment of the whole of the property let under a lease is...
Commercial Lease – What is Security of Tenure? Commercial Property This article about Security of Tenure is the first in Herrington Carmichael’s series of articles explaining the importance and impact of specific clauses in commercial leases. What is Security of...
