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Closing Date

You should understand that, in England and Wales at the end of the lease, unless the lease contains a written agreement to the contrary, a tenant of business property is protected by the Landlord and Tenant Act 1954. The tenant is entitled to a new lease, on terms which the parties agree or which a court will decide if they can’t. There are occasions when this will not apply, and it is important to take legal advice. In Scotland these provisions do not apply. Provided either party gives at least 40 days notice of termination of the lease prior to the expiry date the lease will terminate and you will have no right to remain in the property. There is a limited exception under the Tenancy of Shops (Scotland) Act and you should consult with a Scottish-specific adviser in these circumstances.