Since the 1980s the "institutional" lease has undergone a dramatic transformation. Landlord-orientated FRI leases for a term of twenty-five years with no breaks and upwards-only rent reviews have retreated before market demands for shorter, more flexible letting arrangements and, recently, in the face of threatened legislation. Nevertheless, valuers and lawyers will have to understand and deal with the 1980s leases until well into the second decade of the twnety-first century.

The book sets out to explain the main changes that have occurred since the early 1990s (such as the rules relating to privity of contract). It also provides guidance on the factors driving further change, including the Code of Practice for Commercial Leases and the proposed new accounting standards.

About the Author
Has worked in the City of London for 25 years where his experience revolved around the grant, acceptance and renewal of leases for both institutional investors and multiple occupiers, and dealings with investments underwritten by them. He has experienced (but takes no credit for) two busts and a boom and is cautiously enjoying the activity generated by the continuous improvement in the fortunes of the property market in recent years Based in St James's, in the heart of the West End of London and has specialised in dealing with rent reviews and lease renewals, acting for landlords and tenants of commercial property since setting up the Professional Department of his firm in the early 1980s. He has witnessed several booms and busts in the commercial property cycle and has seen commercial leases become considerably more detailed and sophisticated. Is also an experienced Arbitrator and independent expert.

Reviews

'This is a fascinating and unusual book; not so much a legal textbook as a recent history of the property industry, written in a most clear and readable style... compulsory reading for anyone working in the property industry, whether as a solicitor, a surveyor, or in some other capacity, as it explains so clearly and concisely why our towns are as they are and what changes have taken place in the property industry over the past 25 or 30 years... I wholeheartedly recommend this book to all property lawyers and surveyors, especially those who are just starting their careers and would like to know how (and why) standard leases and the property industry have evolved to the point that we have now reached.' - Peta Dollar, Freelance lecturer, trainer and writer, Landlord & Tenant Review, 2007

Book Information
ISBN 9780728205093
Author Chris Edwards
Format Paperback
Page Count 186
Imprint Estates Gazette Ltd
Publisher Taylor & Francis Ltd
Weight(grams) 453g