Lease Renewal, Shropshire Union Canal

Instructions received to act on behalf of an existing Canal Hire Fleet business in negotiations with British Waterways, the Landlord of the Client Company’s premises on the Shropshire Union Canal in Staffordshire.

Receipt of Section 25 Notice under the Landlord and Tenant’s Act 1954 terminating the Tenancy on 29th September 2008 and offering a new 15 year Lease.

Inspection and measurement of subject premises, buildings, land and moorings. Perusal of expiring lease, chronological collation of tenant’s improvements and advices to Client regarding proposed new lease terms having regard to Client’s future business aspirations under the new lease.

Entering into negotiation, correspondence and meetings on site with British Waterways at their Northwich Regional Offices to address the proposed new lease terms in light of the existing lease covenants, statutory provisions and Client’s operational requirements.

Subsequent receipt of Terminal Schedule of Dilapidation. Detailed inspection of Premises to consider the condition of the subject buildings, wants of repair, reinstatement and decoration, having regard to obligations under the terms of the existing lease. Further negotiations with British Waterways culminating in agreement of schedule of agreed works to be completed under the terms of the new lease and within prescribed timescales acceptable to the Client tenant.

Negotiations and correspondence with British Waterways’ Surveyor to secure agreement of the new lease terms. Preparation and agreement of Heads of Terms for the transaction. Liaison with Client’s Solicitor on the terms and drafting of the new Lease, through to completion of the new lease to incorporate an agreed programme and schedule of works.

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