The building’s size reflects Slough Estates’ desire to provide for the long term needs of occupiers of all sizes who can then benefit from our flexible and hands on management approach. The number of enquiries we have received to date gives us great confidence that we will be able to achieve a ground breaking letting in terms of both rental levels and lease length. 188 Bath Road forms part of Slough Estates plc’s ongoing £180 million development programme involving the development of some 2.4 million sq ft of B1, B2 and B8 accommodation.
However, many tenants attempting to trigger lease breaks have found that they may be forced to commit to a full term after all. Many landlords attach conditions to the break which some tenants find it impossible to fulfil. Conveyancing Company offers comprehensive property Conveyancing offers to make your process done in easy ways. For example, they may be required to give at least six months notice or in many cases a much longer period. This is often overlooked by the tenant, who may give notice too late and therefore misses the boat since the time limits for service are often very strict. Some leases also require the tenant to have fulfilled the covenants in the lease before they are freed from the property.
So, not only must the tenant be up-to-date with rent and service charges, but often they must have maintained the building in the necessary condition and undertake any repairs defined in the legal document. Mr Marlow recently advised a firm which wanted to exercise its break on a 30,000 sq ft office building.
However, if the lease was at its natural end, dilapidations of less than half this amount would be payable. In this case Lambert Smith Hampton negotiated successfully with the landlord, saving its client more than 50,000. But according to Mr Marlow tenants must ensure that leases are breakable at an appropriate time and within the timescale they envisaged.
For occupiers of larger properties this may mean making a decision two years or more in advance of the notice date to ensure that not only can they vacate the property by the appropriate date.