The Clients Challenge
The client was a manufacturing business which occupied three units on different parts of an industrial estate. These units were held on separate commercial leases that varied in length, but all either came to an end or could be brought to an end within the next 12 months. The client had located three more units which they considered more suitable as they were next to each other on another estate but, in order to secure these, they had to enter into lease agreements immediately. The company could not afford to have two groups of leases on both estates for up to 12 months.
The TM Law Solution
TM Law negotiated one lease for the client company to enter into immediately for all three units on the new estate. This lease included provisions that enabled those units to be dealt with separately if the client ever needed to dispose of these on an individual basis. TM Law also ensured there were no payment obligations from the client company to the Landlord until a date to be agreed on.
TM Law separately negotiated the surrender of the existing leases on an agreed date approximately 11 months hence.
