AI Generated British Commercial Lease Renewal Agreement
PDF & Word - 2026 Updated

This Agreement is made on 2024-10-15.

This Agreement is made between the Landlord and the Tenant.

The Original Lease dated 2020-01-15 and identified as Lease Agreement No. 2020-UK-001 demised the premises described as Unit 5B, Riverside Industrial Estate, Manchester, M3 4EF for a term commencing on 2020-02-01 and ending on 2025-01-31.

The Tenant has applied for a statutory renewal of the lease pursuant to the provisions of the Landlord and Tenant Act 1954.

The Landlord and the Tenant have agreed to enter into this Agreement to renew the lease of the premises upon the terms and conditions set out herein.

All terms, covenants and conditions contained in the Original Lease dated 2020-01-15 (registered under title number MAN123456 at HM Land Registry) shall continue in full force and effect during the Renewal Term except as expressly varied by this Agreement.

In this Agreement the following expressions shall have the following meanings unless the context otherwise requires.

The headings in this Agreement are for reference only and shall not affect its construction.

Words importing the singular shall include the plural and vice versa.

Words importing one gender shall include all genders.

In consideration of the Rent and the covenants on the part of the Tenant the Landlord as beneficial owner hereby demises unto the Tenant the Premises TO HOLD the same unto the Tenant for the Renewal Term SUBJECT to the exceptions and reservations hereinafter contained and to the rights granted to third parties as contained in the Original Lease YIELDING AND PAYING therefor unto the Landlord the Rent (exclusive of VAT) and the other sums reserved by this Agreement.

The Landlord hereby demises the Premises to the Tenant and the Tenant hereby takes the Premises from the Landlord for the Renewal Term.

The Renewal Term shall commence on the Renewal Commencement Date and shall expire on 31 January 2030.

This Agreement is a statutory renewal of the Original Lease pursuant to sections 24 to 28 of the Landlord and Tenant Act 1954 and the Tenant\'s rights under the Act are fully protected. There shall be no break clause exercisable by the Tenant. The Landlord may terminate this lease early only in accordance with its rights under the 1954 Act (including for redevelopment).

The Tenant shall pay the Rent to the Landlord quarterly in advance on the usual quarter days (25 March, 24 June, 29 September and 25 December) without any deduction or set-off.

The Rent shall be reviewed on each fifth anniversary of the Renewal Commencement Date to the then open market rent (as defined in the Original Lease) but in no event shall the reviewed rent be less than the Rent payable immediately before the review date (upward only).

All payments under this Agreement are exclusive of VAT and the Tenant shall pay to the Landlord any VAT properly chargeable on such sums on receipt of a valid VAT invoice.

The Tenant shall pay all outgoings (including rates, taxes, utilities and service charges) attributable to the Premises during the Renewal Term on the due dates.

The Landlord shall provide the Tenant with annual service charge accounts and certificates within four months of the end of each service charge year. Service charges shall be payable on account quarterly in advance with balancing payments within 28 days of the provision of the certified account.

The Tenant shall pay to the Landlord on demand a fair and reasonable proportion of the Landlord\'s insurance premiums (as provided in the Insurance section).

The Tenant covenants with the Landlord to pay the Rent and all other sums due under this Agreement on the days and in the manner aforesaid and to pay any VAT properly due thereon.

The Tenant covenants with the Landlord to pay all outgoings such as rates, taxes, utilities, service charges and other charges attributable to the Premises during the Renewal Term.

The Tenant covenants with the Landlord to comply with all fire safety, health and safety and other statutory requirements (including the Regulatory Reform (Fire Safety) Order 2005) relating to the Premises.

The Tenant covenants with the Landlord not to affix or display any signage or advertising on the exterior of the Premises without the prior written consent of the Landlord (such consent not to be unreasonably withheld).

The Tenant covenants with the Landlord at the expiry or earlier termination of the Renewal Term to yield up the Premises in good and tenantable repair and condition (having regard to the condition at the commencement of the Original Lease) and to remove all signage, alterations and tenant\'s fixtures unless otherwise directed by the Landlord.

The Tenant covenants with the Landlord to use the Premises only for the Permitted Use and not for any other purpose.

The Tenant covenants with the Landlord to observe and perform all other terms, covenants and conditions of the Original Lease (except as varied hereby) during the Renewal Term.

The Tenant covenants with the Landlord not to assign, underlet or part with possession of the whole or any part of the Premises without the prior written consent of the Landlord (such consent not to be unreasonably withheld or delayed) provided that the Tenant has paid all rents due and has remedied any outstanding breaches of covenant. The Tenant shall enter into an authorised guarantee agreement on any assignment where required by the Landlord.

The Tenant covenants with the Landlord to allow the Landlord access to the Premises for inspections, repairs and other reasonable purposes on reasonable notice (except in emergency).

The Tenant covenants with the Landlord not to cause nuisance or annoyance to the Landlord or neighbouring occupiers.

The Landlord covenants with the Tenant that the Tenant may quietly hold and enjoy the Premises during the Renewal Term without interruption by the Landlord or any person claiming through or under the Landlord (quiet enjoyment).

The Landlord covenants with the Tenant to be responsible for structural repairs to the Premises (to the extent not caused by the Tenant) during the Renewal Term.

The Landlord covenants with the Tenant to comply with all statutory requirements and planning laws affecting the structure of the Premises during the Renewal Term (to the extent not the responsibility of the Tenant).

The Landlord shall insure the Premises against the risks of fire, flood, storm, explosion, public liability and such other risks as the Landlord may reasonably require in an amount equal to the full reinstatement value plus loss of rent and professional fees.

The Tenant shall pay to the Landlord on demand the Tenant\'s proportionate share of the insurance premiums.

The Tenant shall insure its own contents, trade fixtures, fittings and improvements and shall maintain public liability and employers\' liability insurance with a minimum limit of indemnity of \£5,000,000 and shall provide evidence of such insurance to the Landlord on request.

Nothing in this Agreement shall be construed as implying any easement over any adjoining property of the Landlord.

The Tenant shall indemnify the Landlord against all actions, claims, demands and liabilities arising from any breach of the Tenant\'s covenants in this Agreement.

The Landlord shall have the right to re-enter and forfeit this lease if the Rent is unpaid for 21 days after becoming due (whether formally demanded or not) or if there is any other material breach of the Tenant\'s covenants.

If any sum payable under this Agreement is not paid on the due date the Tenant shall pay interest on such sum at the rate of 4% above the base rate of the Bank of England from time to time from the due date until payment.

The Landlord may recover from the Tenant its reasonable and properly incurred legal and other costs in connection with the preparation and grant of this renewal lease.

The Premises shall be used only for the Permitted Use and for no other purpose (such use being compliant with Class E of the Town and Country Planning (Use Classes) Order 1987 (as amended)).

The Tenant shall comply with all planning permissions and shall not apply for any change of use without the prior written consent of the Landlord.

The Tenant shall not carry out any alterations to the Premises (whether internal, external, structural or non-structural) without the prior written consent of the Landlord (such consent not to be unreasonably withheld or delayed in the case of non-structural internal alterations).

In the case of improvements within the meaning of the Landlord and Tenant Act 1927 the Landlord may require the Tenant to reinstate the Premises at the end of the term.

The Tenant shall indemnify the Landlord against any claims, losses or liabilities arising from any alterations carried out by the Tenant.

The lease is a full repairing and insuring lease and (subject to the Landlord\'s covenant for structural repairs) the Tenant shall keep the Premises in good and substantial repair and condition.

The Tenant shall comply with all health and safety and fire safety legislation and shall be responsible for all repairs and maintenance required to comply with such laws.

The Tenant shall not assign, underlet, charge or part with possession of the whole or any part of the Premises without the prior written consent of the Landlord (which shall not be unreasonably withheld or delayed) provided that at the date of the application for consent the Tenant has paid all rents and other sums due and has remedied any outstanding breaches.

On any assignment of the whole of the Premises the Tenant shall enter into an authorised guarantee agreement in the form required by the Landlord.

The Tenant may not underlet the whole or any part of the Premises at a rent lower than the open market rent without the consent of the Landlord.

There is no contractual break clause in favour of the Tenant. The Landlord may oppose any further renewal under the Landlord and Tenant Act 1954 on the grounds set out in section 30(1) of the Act (including ground (f) redevelopment). In the event of prolonged force majeure either party may apply to the Court for relief pursuant to its statutory rights under the 1954 Act.

The Tenant shall apply to HM Land Registry to register this lease within the Land Registry\'s priority period and in any event within two months of the date of this Agreement and shall provide the Landlord with official copies of the registered title within 14 days of completion of registration. The title numbers are MAN123456 (reversion) and MAN789012 (lease).

The full postal address and description of the Premises for registration purposes is Unit 5B, Riverside Industrial Estate, Manchester, M3 4EF - a ground floor retail unit with ancillary storage.