Heads of Terms—headlease

The following Property precedent provides comprehensive and up to date legal information covering:

  • Heads of Terms—headlease

Heads of Terms—headlease

    1. 1

      Parties

      1. 1.1

        Landlord

        [details]

      1. 1.2

        Tenant

        [details]

      1. 1.3

        Guarantor(s)

        [details]

    1. 2

      Rent Deposit

      £ [amount] for [number] years

    1. 3

      Property details

      1. 3.1

        Building

        [details]

      1. 3.2

        Property

        [details]

    1. 4

      Particular rights required

      [details]

    1. 5

      Particular rights to be excluded

      [details]

    1. 6

      Length of lease

      1. 6.1

        Term

        [number] years

      1. 6.2

        [Break clause

        The [Landlord AND/OR [and the] Tenant] may [each] terminate the Term from [date(s)] on [six] months' notice [subject [(in the case of the Tenant)] to payment of rent and [material] compliance with covenants]]

      1. 6.3

        Security of tenure

        The provisions of Part II of the Landlord and Tenant Act 1954 [do not] apply

      1. 6.4

        [Option to renew

        [The Tenant can extend the lease for [insert number] years at a rent to be determined]]

    1. 7

      Rent and rent review

      1. 7.1

        Rent

        £[amount] a year

      1. 7.2

        VAT

        VAT exclusive

      1. 7.3

        Rent review

        The rent is subject to [upwards only OR index linked OR turnover] rent review every [five] years

      1. 7.4

        Rent free period

        [insert time period] months

    1. 8

      Service Charge

      1. 8.1

        [[Proportion OR

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