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.
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About this document
This lease has been drawn for letting part of a multi-tenant building for business use.
Typically, each tenant would be a separate business letting a suite of rooms or one or more floors of a dedicated office building.
However, it 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 document has been drawn to protect the landlord to as great an extent as possible, 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.
If you are letting an entire office building to a single tenant, look at our lease for offices.
If the property is one of several buildings on an estate you own, look at our lease for a unit on an estate. This includes service charge recovery provisions.
We also sell another version of this document that contains some additional paragraphs covering more technical points. These include:
- 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
Most landlords are unlikely to need these.
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 LTA 1954
The law in this document
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
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
- access for landlord
- termination: default notice by landlord; provision for premature termination (a break clause)
- security of tenure excluded
- Schedule 1: the service charge
- Schedule 2: rights reserved
- Schedule 3: draft agreement for a security deposit
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, please select "Scotland" from the drop down box above.
This document was written by a solicitor for Net Lawman. It complies with current English law.
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