Although I am very much continuing my legal career, having stepped down as head of real estate at Irwin Mitchell, the time has come for me to pen my last Property Week column - after 20 years of filing more than 150 of them.
The dearth of transactional activity in the last few years means those who want to buy or sell property have not had to consider how to do deals in a competitive way.
The British Council for Offices’ Property Data Report 2013, published at the end of October, confirmed the widely held view that commercial property lease terms are becoming even shorter.
The welcome signs of an improving market at long last are prompting investors to look at the structure of the deals they are putting forward.
Legislative initiatives have increased the number of clauses in new leases, but the main negotiation battlegrounds continue to be in traditional areas.
Earlier this year, my article warned tenants exercising break options to ensure they comply strictly with the conditions of their lease break, as case law has consistently confirmed that even a minor failure to comply will result in an invalid break.
Parties entering into a contract with each other must exercise caution when considering what might happen if one of the parties disposes of its interest — in particular, whether successors in title are bound by positive obligations.
The IPD and Strutt & Parker Lease Events Review 2012 reveals that nearly half of tenants surveyed left their lease at break.
The Autumn Statement will have compounded retailers’ fears that they face tough times.
In the present climate, tenants are often concerned about their onerous lease liabilities.
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