Commercial leases are generally very limited in duration – three, five, seven, fourteen years commonly.
In some cases the law provides limited security of tenure to business tenants – that is, if tenants wish to, they can require landlords to provide them with a further lease at the end of the current one.
It is sometimes very important for a business to keep it’s current premises. So you will want to be sure that your right to a new lease is respected.
To be sure of this, there are tight timetables for showing your intention to stay, and responding to your landlord if s/he wishes you to leave. Missing them can be catastrophic, depriving you of your right completely.
Our commercial team, Graham Wright Richard Napier and Adrian Albinson, can advise you exactly how to go about this. You are well-advised to see them well in advance of the expiry of the lease to explain exactly what is required.