Tag: Lease Renewals
Market trends, transactions and news stories from across the business.
Pilot scheme for unopposed London business lease renewals
Under the Landlord and Tenant Act 1954 (1954 Act), a tenant occupying premises for business purposes has a statutory right to renew their lease, unless it is excluded from the provisions of the 1954 Act, or the landlord successfully opposes the grant of a new lease under section 30 grounds (e.g. tenant’s failure to comply with repairing obligations, persistent delay in paying rent and landlord’s redevelopment).
Unopposed Business Lease Renewals Pilot Scheme & The Role Of The Expert
The First Tier Tribunal’s pilot scheme for unopposed business lease renewals came into force on 1st January 2018 and is expected to last for one year. From this date, unopposed lease renewals issued in the County Court at Central London (the “CCCL”) will be transferred to the First Tier Tribunal (Property Chamber) (the “FTT”).