Business lease: suite of offices

This lease is for letting part of a multi-tenanted building for offices or business purposes. The building could be a modern office block or offices above retail space. Features: term under 7 years; guarantor provision; break provision; rent review options; SS 24-28 opt-out; draft agreement for a security deposit; options for assignment; no sub-letting.

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About this lease

This lease has been drawn for letting part of a multi-tenant building for business use. Typically, the tenant would be a business letting a suite of rooms or one or more floors of a dedicated office building. However, the lease could be equally used for letting a space in any sort of commercial premises with other tenants installed. It includes service charge provisions to provide 100% recovery of service costs.

The lease has been drawn to prefer the interest of the landlord rather than the tenant.

Provided the term of the lease is seven years or less, it does not need to be registered at the Land Registry.

Similar business lease agreements

If you are letting an entire office building to a single tenant, look at Office lease agreement.

If your building is one of several you own on the same estate, look at Business lease: unit on industrial estate. This includes service charge recovery provisions.

We sell another version of this lease, aimed at property developers, solicitors and surveyors, that contains some additional paragraphs covering more technical points. You might be interested in looking at: Commercial property lease: suite in an office building if you need any of the following:

  • provisions for sub-letting
  • provisions for an authorised guarantee agreement
  • extensive landlord's warranties
  • references to land registration for leases with a term greater than 7 years
  • prescribed lease clauses

If you are still not sure, there is more information at Which Net Lawman Business Lease?

Key features

Plain English is used throughout except where it is necessary to use legal terms common in this field of law.

The key features of this template can be summarised as:

  • standard guarantor
  • options for transfer or assignment to another party
  • sub-letting forbidden
  • option to include a break clause for premature termination by the tenant
  • a choice of options for rent reviews
  • a draft agreement for a security deposit has also been included
  • opt-out of Sections 24-28 of the Landlord and Tenant Act 1954

The law in this office lease

Business lease law is regulated primarily by the Landlord and Tenant Act 1954, amended many times.

Account has also been taken of:

  • the Landlord and Tenant (Covenants) Act 1995;
  • the Regulatory Reform Regulations 2003;
  • the Joint Committee's Code for Leasing Business Premises;
  • the RICS' Code on Service Charges.

In balancing the codes with the law and the interest of the Landlord, we have followed the codes where reasonable, but have always preferred the interest of the Landlord.

Lease contents

This office lease is comprehensive, providing alternative choices for important decisions.

The contents include 30 provisions and 3 schedules covering:

  • rent: period, amount, other payments, interest on overdue rent, periodic review
  • condition and repair
  • tenant's positive obligations
  • restrictions on tenant: prohibited activities on the property
  • signs and advertisements
  • goods and vehicles
  • assignment of the lease
  • indemnities by the tenant
  • security deposit
  • insurance
  • access for landlord
  • guarantor
  • termination: default notice by landlord; provision for premature termination (a break clause)
  • forfeiture
  • security of tenure excluded
  • Schedule 1: the service charge
  • Schedule 2: rights reserved
  • Schedule 3: draft agreement for a security deposit

Scottish version of this lease

The law governing commercial leases is substantially different in Scotland as compared with England, Wales and Northern Ireland. In Scotland there is no equivalent to the Landlord and Tenant Acts. There is little legislation or case law relating to leases in Scotland. So the version we have drawn for our Scottish user is common law based.

On registration of leases in Scotland, only commercial leases for longer than 20 years must be registered in the Land Register of Scotland. However, the lease is often registered in the Books of Council and Session in Edinburgh.

For the Scottish version of this lease please select "Scotland" from the list in top box.

Draftsman

This document was written by a solicitor for Net Lawman. It complies with current English law.

UK-PRlse07 - Business lease: suite of offices

 
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