Advice re shop lease

[Edgar 2]

Hi
When a shop lease comes to the end of its term does it continue as a rolling contract or should a new lease be signed ? Thanks

 

[kulture]

It depends on the lease and what you agree with the landlord.

 

[rach88]

Assuming you are in England and Wales, it depends on whether the lease has been contracted out of the Landlord and Tenant Act 1954. If it has been contracted out of the Act this should be mentioned somewhere in the lease. If it has not been contracted out, the lease will continue effectively as a rolling contract after the lease expiry on the same terms until either the tenant serves three months notice to leave (a s27 notice) or either the landlord or tenant serves notice to bring the current lease to an end with proposals for a new one (s25 / s26 notice).

 

[Edgar 2]

What happens if it has been contracted out of the landlord and tenant act ? Does that mean that you have to sign a new lease ? There has been mention of a lease by reference , referring back to the original lease . Does this have to be for a set number of years as it was originally 15 year lease with 5 yearly rent reviews but the original lease runs out this autumn

 

[kulture]

You really should talk to a commercial solicitor. Leases are complex and are all different. Any general reply you get here may be correct or potentially misleading. For example, does the lease require you to return the building to a certain condition at the end?