Possibly a record

[brightncheerful]

If you've experienced renewing a commercial property lease, where the tenant has renewal rights under the Landlord and Tenant Act 1954, you'll know it often takes a long time from the expiration of the existing lease to the completion of the renewal lease. One reason is the convoluted system, and another is that after an agreement has been reached by the landlord and tenant and their respective surveyors (if any) in principle, the respective parties' lawyers get to work negotiating every word and phrase. And that's without going to court, having a substantive hearing, agreeing the interim rent and the like—all of which contribute to the delay.

It's not unusual for it to take about 3 years from start to finish.

I'm acting for a landlord of a property let to a bank. The bank's surveyor is a top firm whose brief, in common with another global firm which acts for another bank, is to minimise the bank's commitments. My brief is to maximise for the landlord. It is a battle of wits, skill and know-how. We have just agreed the terms and conditions in principle, subject to completing the finalised draft lease.

Getting to this stage has taken 5 years and 3 months, which, according to those who know, is a record.

[Mike4]

Blimey, the first commercial lease I entered into had a term of five years!

[UncleEbenezer]

Blimey, the first commercial lease I entered into had a term of five years!

I have an idea mine was two years.

Though that was an unusual landlord.