COMMERCIAL PROPERTY SOLICITOR
Law is complicated – We make it clearer
Welcome to 54 Law
We specialise in providing expert legal advice to businesses across all sectors, enabling them to secure commercial premises with speed and confidence
Fixed Pricing
With Lease advice from as little as £650 (excl. VAT) and fixed pricing at every stage, we ensure full transparency and no surprises
Fast Turnaround
Receive your Lease Report within 24 hours. See our Services page for other property advisory and support services
Experienced Solicitor
Over 20 years’ experience working with some of the UK’s leading law firms, we are experts in commercial leases
About us
Paul Davies
- Paul is an expert in landlord & tenant law with considerable experience in a wide range of commercial property work from portfolio management through to investment and development work for both public and private sectors.
- A solicitor with over 20 years’ experience, Paul has worked for international law firms such as Eversheds Sutherland and Gateley as well as acting as a consultant to Local Authorities.
- Paul has represented business tenants across a variety of sectors, gaining a deep understanding of their unique needs and challenges.
Services
Lease Review Report
Get your lease report within 24 hours. The report gives a clear assessment of the key lease terms, identifies potential issues and offers practical guidance on areas that may require further negotiation, all for a fixed price of £650 (excluding VAT).
Additional Services
In addition to reviewing your lease, we can carry out searches, raise enquiries, negotiate on your behalf, complete your lease and then deal with any HMRC and Land Registry formalities. You can select any of these additional services to suite you. See Pricing for more information.
Full Service
You can combine the Lease Review Report and all of the Additional Services for a fixed price of £2,475 (excluding VAT).
Other Property Services
We are experienced in the full range of commercial property legal matters. If you can’t see the service you require here, get in touch.
Pricing
Your business is at the centre of our thoughts and with that in mind, we understand your need to work to a budget. Our fees are fixed at every stage, so that you can move forward with confidence.
| Service | Price (excluding VAT) |
|---|---|
| Lease Review Report | £650 |
| Title Review | £300 |
| Searches | £500 |
| Negotiating Lease | £500 |
| Circulating documents and completing | £400 |
| Stamp Duty Land Tax | £200 |
| Land Registry Application | £300 |
| Full Service (all previous steps) | £2,475 |
| Other services (agreement for lease, assignment, subletting, rent deposit, licence for alterations, change of use, authorised guarantee agreement) | Fixed price available on enquiry |
Notes:
- The cost of searches is additional, based on the specific requirements of the lease.
- Stamp Duty Land Tax is payable to HM Revenue & Customs and is not included in the price.
- The Land Registry fee is payable to Land Registry and is not included in the price.
Lease Process
The following is an illustrative example of the typical lease process. If the property isn’t ready for occupation, then you may require an agreement for lease, for instance to deal with a planning application or for the landlord to refurbish the property. If this is the case, then the completion of the lease will be pushed back until planning is obtained, or the refurbishment is completed.
Pre-Legal | 4-6 weeks | 2 weeks | Up to 2 years* | |||||
|---|---|---|---|---|---|---|---|---|
| Identify Property | Is the Property ready for Occupation? | Is there a Lease already in place? | Heads of Terms | Negotiation | Completion | Stamp Duty Land Tax / Land Transaction Tax (Wales) | Land Registry | |
| – Landlord refurbishment | – Assignment | – Principal terms agreed | – Landlord’s solicitor or existing tenant’s solicitor issues draft document(s) | – Agreed documents circulated for signing | – SDLT form and payment submitted to HMRC | – Application to Land Registry to register lease | ||
| – Tenant fit-out | – Subletting | – Ancillary documents required? (agreement for lease, rent deposit, licence for alterations) | – Evidence of title | – Completion monies collected | – LTT form and payment submitted to WRA (Wales | – Application to Land Registry to note lease | ||
| – Planning permission | – Replies to enquiries | – Pre-completion searches | – Application to Land Registry to register easements (rights | |||||
Survey (recommended) / Title Review / Searches / Enquiries | ||||||||
* Land Registry can take up to two years to register a lease. During the registration process Land Registry might raise enquiries (known as requisitions) which you or your solicitor will need to respond to within a certain amount of time, failing which the application may be cancelled. You do not need to wait for the lease to be registered to be able to occupy and use the Property, however a failure to register can cause issues in the future.
Glossary
54 Law understands that leases can be daunting, and the language can be confusing. With this in mind we have produced the following glossary to help you navigate a lease. Missing anything, please contact us and we will happily update our content.
| Expression | Meaning |
| AGA (Authorised Guarantee Agreement) | A guarantee by the outgoing tenant (assignor) that the incoming tenant (assignee) will meet the terms of the lease. The outgoing tenant may remain liable for the rent and other obligations under the lease if the assignee defaults. |
| Alienation | The process of transferring rights or interest in a lease to another party. This term often refers to assignment and subletting. A lease typically restricts alienation to prevent tenants from transferring their interest without the landlord’s consent. |
| Assignment | The transfer of a tenant’s interest in a lease to another party. The original tenant (assignor) gives up all their rights and obligations under the lease, and the assignee takes over those responsibilities for the remainder of the lease term. |
| Break Clause | A provision in a lease that allows either the tenant or the landlord to terminate the lease before the end of the agreed term, typically by providing notice. The break clause may be subject to specific conditions, such as a minimum notice period. |
| Change of Use | When a tenant wishes to change the permitted use of the leased premises (for example, from retail to office space), they must typically obtain the landlord’s consent. This is often subject to planning permission or other legal restrictions. |
| Dilapidations | The condition of the leased property at the end of the lease term. The tenant is typically responsible for returning the premises to the condition stipulated in the lease, minus fair wear and tear. If the tenant fails to do so, the landlord may claim for damages or repairs. |
| Exclusive Use Clause | A clause that grants the tenant the exclusive right to use the premises for a specific purpose, preventing the landlord from leasing other spaces in the building for similar purposes, providing competitive protection for the tenant. |
| Forfeiture | The landlord’s right to terminate the lease early due to the tenant’s breach of lease terms, such as failure to pay rent or breach of covenants. This process must be carried out in accordance with the terms of the lease and applicable laws. |
| Guarantor | A third party, usually a person or company, that agrees to be responsible for a tenant’s obligations under the lease, such as paying rent or other costs, in the event the tenant defaults. |
| Head Lease | The main lease granted by the landlord to the tenant, which covers the entire property. Subleases may be granted from the head leaseholder to other tenants, and the head leaseholder remains responsible to the landlord. |
| Leasehold | A form of tenure where the tenant (leaseholder) holds a lease from a landlord for a specified term. The tenant does not own the land but has the right to occupy and use the property for the duration of the lease. |
| Lease Plan(s) | A plan or plans attached to a lease showing the extent of the property and any rights that a tenant might need. |
| Licence for Alterations | A formal permission from the landlord that allows the tenant to make changes or improvements to the leased premises. Without this licence, any alterations may be in breach of the lease terms and could result in penalties. |
| Licence to Assign | A formal agreement from the landlord granting the tenant permission to assign (transfer) the lease to another party. The landlord may impose conditions and, in some cases, require the tenant to provide financial assurances from the assignee. |
| Official Copy | An extract from Land Registry showing the description of a property, the owner, any charges over the property and any other matters which affect the use of a property. |
| Permitted Use | The specific use for which the leased premises can be used, as outlined in the lease. Any change in use may require the landlord’s consent, and failure to comply with permitted use clauses could lead to a breach of the lease. |
| Rent Deposit | A sum of money paid by the tenant to the landlord as security against future rent arrears or damage to the property. The deposit is usually refundable at the end of the lease term, subject to the condition of the premises and any outstanding payments. |
| Rent-free Period | A period at the start of a lease (or another agreed time during the lease term) during which the tenant is not required to pay rent. This is often negotiated to allow the tenant time to fit out or adjust to the premises. |
| Rent Review | A clause in a lease that allows the landlord to periodically review and adjust the rent based on current market conditions or other agreed factors. Rent reviews often occur every 3 to 5 years, with terms outlined in the lease. |
| Surrender | The voluntary return of the lease by the tenant to the landlord before the lease term ends. In some cases, this may involve negotiations regarding financial compensation or other terms, depending on the lease agreement. |
| Security of Tenure | The right of tenants to renew their leases under certain conditions as defined by the Landlord and Tenant Act 1954. This provides tenants with the ability to stay in their premises unless the landlord has a valid reason for not renewing the lease. |
| Service Charge | An additional charge payable by the tenant to cover the cost of maintaining the building and common areas (such as cleaning, repairs, and security). The lease will specify how the service charge is calculated and what it covers. |
| Sublease | A lease granted by the tenant to another party (the subtenant) under the terms of the original lease. The subtenant pays rent to the tenant, but the original tenant remains responsible for the lease obligations to the landlord. |
| Title | Legal ownership of a property, typically evidenced by a title deed. The Law of Property Act 1925 outlines the rules governing the transfer of land and property in England and Wales, and the Land Registration Act 2002 governs the registration of land titles with the Land Registry. |
| Title to Property | This refers to the legal right of a person or entity to own a particular property. A tenant must ensure that the landlord has the proper title to the property to grant the lease. A title check confirms that the landlord is the rightful owner and has the authority to lease the premises. |
| Title Plan | A plan provided by Land Registry showing the extent of a property. |
| Tenant Improvements | Modifications or additions made to the leased property by the tenant, often to make the space more suitable for their business needs. These may include alterations to the building or installation of fixtures and fittings. |
| Tenancy at Will | A tenancy that can be terminated at any time by either party without notice. It is often a short-term arrangement pending the signing of a more formal lease. |
| User Clause | A clause in a lease setting out what the property can be used for. |
Enquiry
Or contact us using the following:
07813 330 602
paul.davies@nexa.law