Landlord and Tenant Act 1954 – Contracted out Lease
The video above explains the importance of dealing with an impending lease expiry early especially when dealing with a contracted out lease.
I encourage all occupiers of commercial property to look at their leases and establish whether they are contracted out or contracted into the the L&T Act 1954.
The clause to look for will look something like this:
If the lease(s) are contacted out then adequate time is required in advance of expiry to properly deal with either renewal or exit.