Gerald Eve has a market leading, specialist and uniquely configured lease exit team. Lease exit advice is all we do and significantly, we enjoy what we do.
The team differs in its approach as it includes both building surveyors and general practice surveyors with valuation and negotiation skills to provide a multi-skilled approach to lease end and dilapidations negotiations.
Section 18 of the Landlord and Tenant Act 1927 is an important tool in minimising lease exit liabilities, so knowledge and experience of this legislation is crucial for both realistic budgeting and negotiations. This legislation can apply to limit a landlord’s dilapidations claim. We generally find occupiers pay too much in lease exit settlements, particularly on office buildings, as they do not take into account the speed of obsolescence in advocating the case to the landlord for refurbishment.
Whilst our primary focus is occupier clients and minimising dilapidations liabilities, we also act for landlords so understand their perspective.
We also specialise in assisting occupiers with operating break clauses. Often these are conditional, so may be difficult to operate and with potentially costly downsides if not concluded successfully.
These can turn on vacant possession and payment of rents, which may sound straightforward, but can often be more difficult to achieve than a conventional expiry. Landlords can use break clause conditions to gain leverage in lease end negotiations.
Our aim in undertaking lease exit advice for occupiers is to ensure we provide realistic rather than worst case budgeting and achieve a lease exit at the lowest possible cost, taking full account of the risks involved.
Our lease exit services include:
- Lease exit budget and strategy advice
- Lease break operation advice
- Lease surrenders
- Surplus property strategy and disposal
- Section 18 valuation advice
- Mediation support
- Provision of expert witness evidence in court proceedings or ADR if required
We appreciate that for most occupiers of leasehold property, time spent on vacating and negotiating lease end liabilities is disruptive, meaning time away from their own core business.