Business lease: land, either vacant or with plant or buildings

A lease of land for any business use, for example, plant or equipment storage or a scrap yard. The lease provides for use of any buildings and/or items of plant on the property. Features: 1 to 7 years; guarantor; break provision; rent review options; SS 24-28 opt-out; options for assignment and sub-letting; draft agreement for security deposit.

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About this land lease

This land lease is for letting land that may or may not include buildings or items of plant and machinery. The property could be used for any purpose, from plant or equipment storage, to a scrap yard, to a garden centre or timber yard or farmers’ marketplace.

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 lease agreements

We offer a different version of this lease for letting a car park or lorry park. See: Commercial property lease: land for car or lorry park.

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: Land lease: business use, with or without plant or buildings 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 agreement 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
  • opt-out of sections 24-28 of the Landlord and Tenant Act 1954

The law in this land lease

Law with respect to letting land 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.

Land lease contents

This template is comprehensive, providing alternative choices for important decisions.

The contents include 30 main provisions and 2 schedules covering:

  • rent: 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: rights reserved
  • Schedule 2: draft agreement for a security deposit agreement

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-PRlse10 - Business lease: land, either vacant or with plant or buildings

 
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