A recent case in the High Court Chancery Division (Riverside Park Ltd v NHS Property Services Limited [2016] EWhC 1313 (Ch)) illustrates the difficulty of exercising break clauses in commercial leases and the importance of taking legal advice when looking to surrender premises: The claimant, Riverside Park Ltd, granted a 10-year lease of Suite 4…
On leasehold properties where the lease has only eighty years to run, this may cause issues for lenders in granting mortgages. Each lender will have their own specific requirements and these are governed by the UK Finance Handbook. Prior to the Leasehold Reform, Housing & Urban Development Act 1993 (LRHUDA 1993), leaseholders/tenants with insufficient terms…