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ARTICLE · 29 NOVEMBER 2016

Commercial Leases: Ready For Business Rates Changes

Bond Dickinson LLP
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This occurs when the landlord opposes the tenant's renewal of its tenancy on strategic grounds such as wishing to develop the premises or occupy them itself.

United KingdomReal Estate and Construction
Mark Barley
Mark Barley

Statutory Compensation for Business Tenancies

On 1 April 2017, Business Rates are changing for the first time in seven years but given that the draft Rating List has now been published, it is time for commercial landlords and tenants to start considering the impact of the changes on the Statutory Compensation which could be payable under the Landlord and Tenant Act 1954.

When does Statutory Compensation arise?

Business tenancies which benefit from security of tenure under the Landlord and Tenant Act 1954 ("the 1954 Act") can give rise to the payment by the landlord of Statutory Compensation to the tenant. This occurs when the landlord opposes the tenant's renewal of its tenancy on strategic grounds such as wishing to develop the premises or occupy them itself.

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