Lease: suite or floor in office building, over 7 years
Lease suite or floor in office building, full, over 7 years
How and when to use this document
This lease is for a landlord of a multi-let office or commercial building, let by the floor or suite. It provides for service charges for professionally managed services. Can be used for shorter period when the prescribed lease clauses are optional.
Like every Net Lawman document, this one has been drawn so that you can easily delete what you do not need without upsetting the remainder of the document. Buy it once and use the same version for every tenant.
This lease agreement may be easily adapted for any business purpose.
Why seven years?
First: any lease granted in England or Wales for a term of more than 7 years for a property registered with HM Land Registry must commence with a set of prescribed clauses known as clauses LR1 to LR14. This commercial lease includes these clauses. We also include example text for completing them. They are included in the word count at the bottom of this page.
Second: a lease for more than seven years must be registered at HM Land Registry. Not a problem - simply more work and expense. Refer to the column on the right of this page.
Security of tenure: under the Regulatory Reform (Business Tenancies) Order 2003, the parties to a new lease may exclude security of tenure without an order of the court.
By excluding security of tenure, the landlord may obtain possession on expiry of the lease term. Our free guide is here. To exclude security of tenure, you will need a number of forms. We provide these forms in a simple pack with full guidance notes. Once you've added this lease agreement to your basket, search for 'Agreement to exclude security of tenure' and add the pack to your shopping basket.
This lease is not suitable for a residential letting.
Main Contents
Prescribed lease clauses (with example text in notes)
Guarantor
Service charge provision
Provision for building management regulations
Rent: paid monthly in advance, but can be changed to suit you
Payment provisions: all payments the tenant might have to make
Use allowed: including list of prohibited activities
Break clause: that is, premature termination on tenant’s notice
Landlord’s access: to view or show prospective lenders or buyers
Rent review: reviewed [3] yearly, upwards only, but can be altered
Repairs: tenant must maintain in same condition (not better)
Decoration: tenant to decorate in third year and at end of lease period
Long menu of other covenants
Landlord warranties
Insurance: landlord insures, tenant reimburses premium as insurance rent
Transfer of lease: tenant can transfer all premises with consent no transfer of part only
Subletting: forbidden
Termination: what happens
Many other usual provisions to protect your interest
Draftsman
This document is drawn and maintained by Net Lawman. It is real law in plain English.
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