Transferring a Commercial Lease

If you’re renting commercial property and you’d like to end the lease, you may wish to consider the option of transferring a commercial lease. Our expert solicitors can support you in assigning the remaining time on your lease to a new tenant.

We understand that it’s frustrating to be tied into a lease that no longer suits you, and the situation could even be having a negative effect on your business. We can help you to assign your lease to a new owner quickly and conveniently.

We know you’ll find our expert solicitors to be both professional and approachable. At WSP Solicitors, we have extensive experience in supporting clients with lease transfer processes.

Expert help with all types of commercial lease transfers

Our commercial lease solicitors are specialists in matters such as:

• Assigning a commercial lease
• Obtaining the landlord’s consent for a lease transfer
• Authorised guarantee agreements
• Subletting a property

Consult our commercial lease transfer solicitors in Gloucestershire

To discuss a commercial lease transfer with our expert team, please contact your local WSP Solicitors office in Gloucester or Stroud, or use the enquiry form on the right.

If you have a quick question or would like to request a call back, you can also use our quick online enquiry form.

How we can assist with commercial lease transfers

Assigning a commercial lease

Our specialist solicitors can support you throughout the entire process of transferring a commercial lease. In the majority of cases, it’s possible to assign the lease to another person. However, some leases include terms that forbid the transferring of a lease.

Our solicitors can give you advice and guidance on finding a suitable person to take over your commercial lease. It’s important that you choose the right person, otherwise, this could have a negative impact on your application.

It’s crucial to seek legal advice before assigning a commercial lease. Without the correct advice, you could end up still being liable for the rental expenses or accused of breaching your contract.

Obtaining the landlord’s consent for a lease transfer

As part of the lease transfer process, you’ll need to get permission from your landlord. Unless you obtain permission, you could incur financial penalties. Our expert commercial property lawyers can help you to apply for the landlord’s consent and offer legal advice in the event of a dispute.

Landlords are not entitled to ‘unreasonably’ deny consent, however, some landlords will refuse under certain circumstances. If your landlord chooses to withhold consent, WSP Solicitors can offer legal advice that’s tailored to the specifics of your situation, supporting you to achieve your desired outcome.

Authorised guarantee agreements

Once the landlord has given their consent, the two parties must enter into an ‘Authorised Guarantee Agreement’. It’s a type of guarantee that is provided by the tenant who is leaving to confirm the obligations and reliability of the assignee.

Our solicitors can provide expert legal advice to guide you through this stage, and finalise the agreement. Usually, the details of the arrangement are recorded in the Licence to Assign document.

We can support you by drafting the Authorised Guarantee Agreement, the Licence to Assign, and the Rent deposit Deed. At WSP Solicitors, we have the skills and specialism to draft the perfect legal documents to protect your rights.

Subletting a property

Subletting a property is another option for tenants wishing to terminate a lease. Our expert solicitors can offer legal advice to support you during this process, ensuring that you follow the correct legal guidelines for subletting a property. If you choose this option, you may need to take on some extra responsibilities to ensure that the sub-tenant is properly fulfilling their obligations.

To discuss transferring a commercial lease, get in touch with our commercial property solicitors.

Commercial lease transfers explained

Are commercial leases transferable?

Yes, if you’re keen to make a lease transfer, it is possible to transfer a commercial lease to a new owner. If a tenant no longer wishes to continue with a lease, the tenant usually has the option to assign their lease to someone else, so long as they have the permission of the landlord.

Under some circumstances, the lease on commercial property is non-transferable. Some leases forbid tenants to do so, while other contracts may impose restrictions on assigning a lease. If you’re considering a lease transfer, we can support you in reviewing your commercial lease agreement, ensuring that you fully understand your options and next steps.

Can I terminate a commercial lease?

If you attempt to terminate a commercial lease, you will usually incur a large fee from the landlord, for instance, the landlord may require that you pay an early termination fee. If your tenancy contract includes a break clause, you may be able to break the contract without paying a penalty. Many contracts do not include a break clause, and so generally, the best option is a lease transfer.

How to transfer a commercial lease?

When you’re transferring a commercial lease, you’ll first need to apply to your landlord for consent and find a suitable replacement tenant. Your landlord will want to conduct a financial status check on the potential new tenant, as well as obtain references. To ensure that your landlord consents to assigning the lease, it’s important that you choose a suitable tenant.

How long does it take to transfer a commercial lease?

Once you’ve applied to your landlord for consent, and they have granted that consent, they are likely to conduct a background check on the assignee, which could take a few weeks.

Timeframes may vary on a case-by-case basis, for an estimate of how long your case will take, contact WSP Solicitors.

Can a landlord refuse to assign a commercial lease?

Yes, a landlord does have the right to refuse a commercial lease transfer, however, they cannot ‘unreasonably’ refuse consent. According to the Landlord & Tenant Act 1988, the landlord must give the tenant consent unless it is not reasonable to provide consent in that given situation.

The landlord might refuse to assign the lease if doing so means that the property will be used for a different purpose (and they are unhappy with this purpose). They might also refuse if the replacement tenant lacks financial stability or good references.

Why choose WSP Solicitors for transferring a commercial lease

Extensive experience with commercial lease agreements

Our lawyers have extensive experience in supporting clients with lease transfers. We can offer pragmatic and clear advice, helping you to swiftly resolve your living situation, and move forward.

Friendly and personal service

We can offer sensible advice at every stage, reassuring you about how the situation is progressing and educating you on what the next step is. We strive to build long-term relationships with our clients, so offering outstanding service is always our goal.

Transparent pricing at every stage

Our solicitors will offer you transparent pricing from the very beginning so that you know exactly what to expect. After agreeing on the expenditure in advance, you’ll receive regular updates as the work progresses. We always strive to provide affordable legal solutions and put our clients first.

If you’re interested in transferring a commercial lease, we will take a close look at the specifics of your situation, ensuring that we provide tailor-made legal support.

Contact our commercial lease transfer solicitors in Gloucestershire

To discuss a lease on commercial property or the option of a lease transfer, please contact your local WSP Solicitors office in Gloucester or Stroud or use the enquiry form on the right.

If you have a quick question or would like to request a call back, you can also use our quick online enquiry form.