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What options are available for a commercial landlord to obtain payment of rent arrears? Forfeiture -v- Commercial Rent Arrears Recovery

What options are available for a commercial landlord to obtain payment of rent arrears? Forfeiture -v- Commercial Rent Arrears Recovery
Commercial landlords have always had recourse to, and used the right of, re-entry under a business tenancy for non-payment of rent. The threat of having your lease forfeited has been an effective tool for landlords to extract payment of rent from tenants. However, the Coronavirus Act 2020 has restricted a landlord's ability to use this threat to en...
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67 Hits

What happens to a landlord's property if its tenant becomes insolvent?

What happens to a landlord's property if its tenant becomes insolvent?
Insolvency of companies, even High Street giants is increasing. How does this affect commercial property owners? What can a commercial property owner do if its tenant ceases to trade and becomes insolvent? In our article "Commercial Premises - Apparent Abandonment due to COVID" we addressed the issues faced by property owners of having commerc...
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  88 Hits
88 Hits

Non payment of rent protections extended

Non payment of rent protections extended
On 29 September 2020, the Business Tenancies (Protection from Forfeiture: Relevant Period) (Coronavirus) (England) (No 2) Regulations 2020 (SI 2020/994) (Regulations) came into force. The regulations extend the protections from forfeiture for non-payment of rent for business tenancies in England to 31 December 2020. Section 82 of the Coronavirus Ac...
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  350 Hits
350 Hits

What is a Full Repairing and Insuring Lease?

What is a Full Repairing and Insuring Lease?
It is common when negotiating a new lease to see the term 'FRI Lease' used by agents in the heads of terms. But what does this phrase actually mean and what obligations does this impose on a tenant? A full repairing and insuring lease is a specific type of lease which places the responsibility and cost of maintaining and repairing the whole of the ...
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  681 Hits
681 Hits

Option Agreements: what are they and how can they assist developers?

Option Agreements: what are they and how can they assist developers?
Obtaining planning permission for a potential development can be a lengthy and costly process. As a developer you want to ensure that the development site is not sold whilst you are dealing with the planning process. However, you do not want to tie up all of your capital and purchase a property in haste which could potentially prove to be unsuitabl...
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  381 Hits
381 Hits

Commercial Lease Heads of Terms: what to look out for?

Commercial Lease Heads of Terms: what to look out for?
By the time solicitors are instructed on behalf of a tenant in relation to a new commercial lease, heads of terms have often been agreed between the parties. However, this means that they have missed a vital chance to negotiate specific terms within the lease which may be to their advantage. By seeking professional legal advice BEFORE agreeing term...
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1359 Hits

How does Primark hold the key to retail rents?

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Last month our commercial property team looked at Arcadia's attempt to negotiate rent reductions with the help of CVAs. Since then, more high street retailers are following suit and we look at what the future holds for commercial leases. Our article in July 'Arcadia propose CVA to their landlord Intu' discussed the difficulties faced by Arcadi...
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  1196 Hits
1196 Hits

Al fresco dining on the high street

Al fresco dining on the high street
Summer has finally arrived and restaurateurs with the benefit of a pavement licence are likely to see an increase in trade as they offer diners the opportunity to sit outside to enjoy the warmer weather. However, there are certain considerations to take note of when applying for any licence, including whether your property's lease actually allows f...
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  628 Hits
628 Hits

“What actually amounts to Practical Completion?” Mears Ltd v Costplan Services (South East) Ltd

“What actually amounts to Practical Completion?” Mears Ltd v Costplan Services (South East) Ltd
If you take a lease of a 'work-in-progress' with no completion date, you may rely on 'practical completion'. But when a builder says that works are 'practically complete' and you disagree, it could end up in court... Mears Limited entered into an Agreement for Lease with Cost Plan Services (Southeast) Limited to take a 21-y...
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  569 Hits
569 Hits

Practical Completion in Construction Contracts and their affect on Agreements for Lease

Practical Completion in Construction Contracts and their affect on Agreements for Lease
Practical completion is generally the point at which an 'expert' will confirm that a building project is complete, except for minor defects that can be put right without undue interference to an occupier. An Agreement for Lease will rely on this date and problems often arise when deadlines are not met or the level of acceptable 'minor defects' is d...
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  1644 Hits
1644 Hits

Arcadia propose CVA to their landlord Intu

Arcadia
Despite describing themselves as a global fashion force, Arcadia, owned by Sir Philip Green, has approached its creditors, including Intu Properties plc, with company voluntary arrangements in a bid to stave off collapse. But what exactly is a CVA and what impact does it have on landlords and tenants? Arcadia owns fashion retailers Topsho...
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  710 Hits
710 Hits

Business Rates - What’s the problem?

Business Rates - What’s the problem?
The subject of business rates has been a hot topic in the news recently, with PricewaterhouseCoopers reporting that 1,123 stores have vanished from Britain's top 500 high streets in the first six months of this year. As a result, a recent conference on business rates has called for a shake-up. But how?      What are business rates? N...
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  561 Hits
561 Hits

The costs of commercial leases: is it up for negotiation?

The costs of commercial leases: is it up for negotiation?
The Tenant Fees Bill has shaken up the residential property market but the position is different in the world of commercial property. So, who should pay the costs incurred in granting a lease? Residential tenants were liable for many fees until very recently and the answer used to also be the commercial tenant but customs have already changed ...
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  3872 Hits
3872 Hits

The Accidental Landlord

The Accidental Landlord
Stephen Eccles, our Litigation Partner, considers how a property owner can be caught by legislation relating to commercial property. ​ We have recently encountered a number of cases where a landlord has allowed a tenant into possession of commercial property in exchange for rent and has then been alleged to have created a 1954 Act Business Tenancy ...
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  2541 Hits
2541 Hits

Client Spotlight: Celebrating 5 years with another property completion

Sisu Advisors
This week marks the fifth anniversary of Pinney Talfourd's appointment as solicitors for Sisu Advisors; a commercial real estate investment company with an impressive portfolio of Grade A office buildings across the UK. ​With a further completion this week, Vesa Poikonen, the founder and CEO of Sisu Advisors, visited the firm's office for a celebra...
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  1003 Hits
1003 Hits

Commercial Property, Frustration and Brexit

Commercial Property, Frustration and Brexit
The UK's return of a vote in favour of leave in the referendum on its future relationship with the European Union had an impact on the latter's decision as to where its European Medicines Agency should be based and, having entered into a lease for a property based in the United Kingdom some 21 months prior to the result, wished for it to be re...
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  988 Hits
988 Hits

What can You do if your Commercial Tenant wants to Leave?

What can You do if your Commercial Tenant wants to Leave?
​ Your tenant approaches you with the news that they have found a new tenant for your property and that they wish to vacate – quickly. Their business is not going as well as anticipated and they express concerns about being able to continue to pay rent. The prospective tenant is keen to move in and your tenant obviously keen to move on, with one ey...
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  895 Hits
895 Hits

Minimum Energy Efficiency Standards and Commercial Property

Minimum Energy Efficiency Standards and Commercial Property
Energy used to power non-domestic buildings in the UK accounts for 12% of the country's carbon emissions. It represents one of many challenges our government faces if we are to meet our legally binding carbon targets in 2025 and 2030 under the Paris agreement or, further, the government's previously pledged (but not yet binding) target to reduce ou...
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  1293 Hits
1293 Hits

Entire Agreement Clauses and Misrepresentation

Entire Agreement Clauses and Misrepresentation
On 20 March 2017, Michael Brindle QC gave a judgement in the High Court Chancery Division in the case First Tower Trustees Ltd and another v CDS (Superstores International) Ltd concerning entire agreement clauses, common in both commercial property contracts and commercial leases.It related to a failure by the landlord to update tenant on the posit...
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  959 Hits
959 Hits

CPSEs and Failure to Communicate

CPSEs and Failure to Communicate
Many landlords view Commercial Property Standard Enquiries with a sense of dread. However, they are integral and failure to keep them updated can cause issues.It can appear unreasonable for the landlord to have to complete lengthy replies to enquiries for a simple lease transaction. Many solicitors, including ourselves, regularly assist landlords w...
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  1328 Hits
1328 Hits

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