What is the service?
Commercial Ground Lease Advice - Rent Reviews & Lease Extensions
Why is it offered?
A commercial property held on a leasehold basis (rather than freehold) will typically be subject to a ground lease of c. 99 to 999 years. There will often be a ground rent payable which is revised at regular intervals. We provide advice and negotiate rent reviews on a client’s behalf.
When a ground lease is coming to an end, say with less than fifty years to expire, we provide advice and negotiate terms to extend the ground lease.
Why do clients benefit?
The terms of ground leases can vary significantly and have varying degrees of obligations, liabilities and covenants. This has a material impact on the level of rent that should be set under the lease. Therefore, careful interpretation of the lease, together with up-to-date market knowledge is vital.
It’s where professional advice can make a difference. LSH acts for numerous clients, both Landlords (local authorities, property companies) and Tenants (local and regional businesses) and so when it comes to providing advice on ground leases, we combine experience with market knowledge, making sure our clients get the best outcome possible.
To find out more, contact Will Hunt on firstname.lastname@example.org.