Price to change over lease

[Toon]

I have recently vacated a factory unit I leased and am waiting to move into a new shop. I had two years left on the lease but I got someone to take over the lease and sign up for the remaining 2 years for me. I was told there would be a "small fee" to change the lease. I have just been told this fee is £500! Does these seem about right?

 

[Antonia @limeone.com]

Assigning a lease varies in terms of cost but £500 plus VAT is average with High Street Solicitors. If you are picking up the tab then you could try to negotitiate if the figure is not a blanket 'reasonable fees' clause in the lease.

 

[Toon]

I don't think i was charged that much to set up a new lease so thought it was a little extreme to be charged that much just to change the name.

 

[Antonia @limeone.com]

There is more to assignment than changing the name normally but unless there is a fixed cost you can challenge it on the basis of work actually done.

 

[Toon]

Thanks for that. I may as well try Nothing to lose.