| |
Tenants Improvements
The expression Tenant's Improvements is used to describe a wide
range of works, that are usually carried out by a tenant,
at their own cost, and usually require the landlord's prior
approval.
Tenant's improvements may not necessarily increase the value
of the demised premises, but can have an impact upon the future
rent payable by a tenant.Section 19 (2) of the Landlord &
Tenant Act 1927 provides that a covenant in a lease against
the making of improvements, without the consent of the landlord,
is deemed to be subject to a proviso that consent will not
be unreasonably withheld.
As a condition of consent however, the landlord will often
require:-· The payment of a reasonable sum in respect
of any damage to or diminution in the value of the premises
or of any neighboring premises also in the landlord's ownership.·
The payment of the landlord's legal and other proper expenses
incurred in connection with the granting of consent, usually
by way of a Licence.·
In cases where the improvement does not add to the value
of the demised premises, a covenant from the tenant to re-instate
at the end of the lease.
Most rent review clauses will include a provision whereby
Tenant's Improvements are ignored for the purposes of assessing
the revised rental value.
 |
Before you go office
hunting, make sure you have defined your space needs and service
priorities. Global Office Search can help you determine your
exact space requirements, locate the commercial properties that
best fit and help you negotiate favourable terms. |
|
|
|
Global Office Search
Global Office Search
|
| Global Office Search can provide
in-depth knowledge. |
|
|
| Insight on the potential
for buying, selling or leasing offices and commercial
property and land in London and throughout the UK. |
|
|
| We specialise in offices, with or without
warehouse, distribution or industrial space, and we represent
many owners, occupiers, developers and investors across the
country. |
|
| As part of your office relocation
process, we offer an informal meeting to assess the realistic
options of selling or letting existing commercial property
or finding more suitable alternatives. |
|
|
| We make our recommendations
but you decide what happens next. |
|
|
|
|
|
