Lease Extension Solicitors in London

Are you looking for the best lease extension solicitors in London? Look no further than Wembley Solicitors. We have successfully helped many clients secure favourable lease extensions.

No matter where your commercial property is, our commercial lease solicitors provide legal services regarding the renewal or extension of leases throughout England and Wales.

For reliable and affordable lease extension services, contact our lease extension solicitors in London at 0203 417 3700 to schedule a consultation.

Table of Contents

1. What is a commercial lease extension?
2. How does the lease extension process work?
3. When should you extend a commercial lease?
4. How long does a commercial lease extension take in the UK?
5. What costs are involved in a lease extension?
6. How much does it cost to extend a lease in London?
7. How much are solicitors' fees for a lease extension?
8. Why choose our lease extension solicitors?
9. Frequently asked questions
10. Need legal advice & assistance?

What is a commercial lease extension?

A commercial lease extension involves extending the duration of an existing lease agreement for a commercial property beyond its current expiry date.

This process requires negotiation between the landlord (lessor) and the tenant (lessee) and the execution of legal documents to formalise the extension.

How does the lease extension process work?

The lease extension process involves several steps, including valuation, negotiation, serving notice, and completion of the lease extension agreement. At Wembley Solicitors, our team of lease extension solicitors in London can assist you with each stage, ensuring a smooth and efficient process.

Below is a simplified overview of the process for extending a commercial lease:

1. Review Existing Lease
2. Consult a Commercial Lease Solicitor
3. Negotiations with the Landlord
4. Serve a Formal Notice
5. Draft Lease Extension Agreement
6. Completion and Registration

Review Existing Lease

Well before the current lease expires, review its terms, especially any clauses related to renewal or extension, to understand your rights and obligations.

Consider how the premises serve your current and future business needs, including location, size, layout, and cost.

Decide whether extending the lease is the best option based on your business’s strategic direction and financial considerations.

Consult a Commercial Lease Solicitor

At Wembley Solicitors, our commercial lease solicitors in London can offer valuable legal advice on the process, interpret any complex lease terms, and represent you in negotiations.

Negotiations with the Landlord

Informally approach your landlord to express your interest in extending the lease. This conversation can give you a sense of their openness to an extension and under what conditions.

Negotiate the terms of the lease extension, including the length of the new lease, rent, repair obligations, and any break clauses. This step can be complex and may take time to reach an agreement that suits both parties.

Serve a Formal Notice

Depending on your lease terms and the Landlord and Tenant Act 1954, you might need to serve a formal notice requesting the lease extension.

Draft Lease Extension Agreement

Once terms are agreed, our solicitor will draft the lease extension agreement, which will include all the negotiated terms.

Both parties should carefully review the new lease agreement. Once it’s agreed upon, both the landlord and tenant sign the document.

Completion and Registration

The signing of the lease marks the completion of the lease extension process. Ensure you have a clear understanding of any immediate obligations, such as payments or agreed-upon repairs.

If applicable, the new lease must be registered with the Land Registry. Our solicitor can handle this process for you, ensuring that all legal formalities are correctly followed.

We will guide you through each stage of the process, including assessing your eligibility for a lease extension, calculating the lease extension costs, serving the necessary notices, negotiating with the landlord, and finalising the terms of the extension. We aim to ensure that you understand your rights and options, enabling you to make informed decisions that align with your long-term goals.

Contact us at Wembley Solicitors today at 0203 417 3700 for expert guidance and navigating the lease extension process.

When should you extend a commercial lease?

Consider extending your commercial lease well before its expiry, especially if your business depends on the location or if the premises have been tailored to your specific needs. Starting negotiations 6 to 12 months before the lease ends is advisable to allow ample time for discussions and to avoid any business disruption.

How long does a commercial lease extension take in the UK?

Extending a commercial lease in the UK usually takes from 4 to 12 months, from the decision to extend to the completion of the registration process.

The duration of a commercial lease extension process in the UK can vary significantly based on several factors, including the complexity of the negotiations, the responsiveness of the parties involved, and whether the lease is protected under the Landlord and Tenant Act 1954.

What costs are involved in a lease extension?

When extending a lease, it is important to have a clear understanding of the associated costs and the valuation process. At Wembley Solicitors, our lease extension solicitors in London can provide you with accurate and comprehensive information about lease extension costs and valuation to help you make informed decisions.

Here's a breakdown of the main costs associated with the extension of the lease:

How much does it cost to extend a lease in London?

Lease extension costs can vary depending on various factors such as the remaining lease term, property value, ground rent, and the presence of any special circumstances.

Here's cost estimates to extend commercial property lease in London:

Understanding lease extension costs and valuation is essential for making informed decisions about extending your lease. Contact us at Wembley Solicitors today at 0203 417 3700 to schedule a consultation with our lease extension solicitors in London.

How much are solicitors' fees for a lease extension?

At Wembley Solicitors, we offer affordable commercial lease extension services on a fixed fee basis with no hidden costs or nasty financial surprises.

Our commercial lease solicitors in London charge a fixed fee from £1000-£1500 plus VAT for complete legal services regarding the lease extension.

Why choose our lease extension solicitors?

Choosing the right lease extension solicitors in London is crucial to ensure a smooth and successful lease extension process.

At Wembley Solicitors, we offer a range of benefits that set us apart from the competition. From affordable fixed-fee services to expert guidance, we provide the best possible experience for our clients.

• We have extensive knowledge and experience in drafting and negotiating commercial leases.
• Our commercial lease solicitors provide legal services on a fixed fee basis without blowing your budget and with no hidden costs.
• We provide professional legal advice and assistance at every step and keep you updated as your matter progresses.
• We provide legal services remotely throughout England and Wales. You do not need to physically attend our office.
• We have a team of qualified and accredited solicitors.
• We are authorised and regulated by the Solicitors Regulation Authority (SRA), so you know you are in safe hands.

Contact Wembley Solicitors at 0203 417 3700 and let our lease extension solicitors in London secure the future of your commercial property with confidence.

Frequently asked questions