I’m a tenant, get me out of here... Ways out of a commercial lease
As a tenant, your lease grants you an exclusive right to occupy a property for a fixed period of time. You are ‘tied in’ during that time, which is great if you’re trading well and your business is profitable.
But what happens if you’re struggling to make ends meet? The thought of paying rent for another two, three or four years will, in some cases, feel like a prison sentence. So how do you escape?
Break clause — the first place to look would be within your own lease. If you were cautious/prudent from the outset, the chances are you may have negotiated a break clause. This would give you an opportunity to terminate the lease on a specific date provided you comply with certain conditions. A word of warning — exercising a break is often more difficult than it sounds…
Click on the link below to read the rest of the Gateley briefing.
Sign in or Register to continue reading this article
It's quick, easy and free!
It takes just 5 minutes to register. Answer a few simple questions and once completed you’ll have instant access.Register now
Why register to The Lawyer
In-depth, expert analysis into the stories behind the headlines from our leading team of journalists.
Identify the major players and business opportunities within a particular region through our series of free, special reports.
Receive your pick of The Lawyer's daily and weekly email newsletters, tailored by practice area, region and job function.
More relevant to you
To continue providing the best analysis, insight and news across the legal market we are collecting some information about who you are, what you do and where you work to improve The Lawyer and make it more relevant to you.
News from Gateley
News from The Lawyer
Briefings from Gateley
In 1998 Mr Durkin returned a laptop to PC World. Little did he know that this would result, 16 years later, in the Supreme Court issuing a judgement on a financial loss claim.
One problem with keyword advertising is that keywords are often similar to trade marks and if you don’t get it right you can be dragged into costly infringement proceedings.
Analysis from The Lawyer
The Law Society recently published guidance to assist solicitors draw up Shariah-compliant wills, causing outrage in some quarters. Gateley’s Haroon Rashid explains the facts.