Lease breaks are nothing new.  They have been around a long time.  It is becoming increasingly rare to see 20 or 25 year leases.  Tenants want flexibility in their lease term, so they can ‘get out’ if needed.  Business can expand or retract, and as such their premises requirements will also expand and retract.  Lease breaks give the tenant a chance to hand the property back to the landlord if it no longer fits their needs.  Most lease breaks will have certain conditions attached to them, which need to be complied with if the break is to be effective.

Are you think of moving premises?  Of course, it is exciting to move premises, particularly if the premises are new and there is a brand new colour scheme and interior design to choose.  It is all too often the case that tenants can get excited about the prospect of moving somewhere new and sometimes what seem like insignificant side issues become bigger issues as the move takes its course.  By taking correct and early advice, tenants can quite easily avoid potential pitfalls and can be steered through the minefield of a move.  Early advice from an experienced building surveyor is essential to ensure a smooth move and to stay properly protected against cost risk and business disruption.  It is no good waiting for the works to start on site before taking advice.  This is a big investment and you need to protect that investment.

Now that we appear to be past the worst of the pandemic in this country, and efforts are made to re-introduce some form of work (construction being specifically identified by the PM), there remains a very real risk of a second spike.  This second spike will prolong the containment measures and increase the financial pressure on the industry. This increased financial pressure brings with it risks to the entire spectrum of the property industry.