IF you are exercising a break clause in a commercial lease, is your notice valid?
If the requirements in the lease are not met, you could end up with a landlord arguing that your notice is not valid, which could mean you inadvertently losing your contractual right to terminate your lease with all its associated liabilities and consequences for your business.
Where can you go wrong when trying to exercise your break right?
Serving the letter on the wrong party;
Not complying with the requirements in the lease setting out where you are to send the letter and how;
Not complying with any pre-conditions you are expected to fulfil before serving your notice.
If you have any queries on break rights in leases please contact Viv Whiteaker, commercial property solicitor at Lamb Brooks LLP based at Victoria House, in Winchester Street, Basingstoke, on 01256 305568 or email her at viviene.whiteaker@lambbrooks.com.
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