Guidance for commercial tenants
Lease expiry
What happens at the end of my lease? Will I be granted a new lease?
In most cases, the answer to this question will be ‘Yes’. The law protects business tenancies and most business leases can be renewed. However, we can refuse to renew your lease if you have broken the conditions of your lease, for example, if you have rent arrears or have not carried out necessary repairs.
There are other limited circumstances where a landlord can require the lease to end e.g. if we plan to redevelop a property or we need the property for our own use.
It is recommended that you seek appropriate professional advice prior to the expiry of your lease.
How do you decide the terms of my new lease?
Before your current lease ends, we will contact you to discuss the terms of your new lease and serve a formal notice. There are time limits that apply and should you receive a notice we recommend that you obtain professional advice.
Stamp Duty Land Tax
Stamp Duty Land Tax (SDLT) is payable in respect of lease transactions. The amount of stamp duty payable is dependent on a number of factors. Your solicitor will be able to advise you of the amount payable. There is an SDLT calculator on the HM Revenue and Customs website providing a guide to the stamp duty payable: Stamp Taxes Calculators|
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Land Registry
If your lease is for more than 7 years then you have to register it at the Land Registry. If you have a solicitor acting, they will deal with this for you. The Land Registry for West Yorkshire is the Nottingham West office at Chalfont Drive,Council Nottingham NG8 3RN. Their telephone number is 0115 935 1166.
