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Business Leases Getting Cheaper!
Parks which are landlords or tenants under business leases may be interested that a one year pilot has just started in central London to simplify the renewal process for unopposed leases. This is where the landlord doesn’t oppose the new lease but the parties have not been able to agree all the terms and need a Judge to decide. Unopposed renewals will now be dealt with by the First-tier Tribunal. This should speed up the process and reduce the cost. However, in contrast to the County Court, legal costs will not usually be recoverable.
Whilst the pilot is only in central London, it is likely to be rolled out nationally if successful.
If you have any queries regarding business lease renewals on your park or if you are interested in subscribing to our Parklaw service, or wish to speak with our experienced team of Parklaw solicitors, please call us on 01392 207020 or email: email@example.com.