Today, the Law Commission launched a consultation into the Landlord and Tenant Act 1954 (1954 Act). The review is focusing on Part 2 of the 1954 Act, which relates to the tenant's right to acquire a new lease of the property after expiry of the term of their existing lease in England and Wales.
The Commission will seek to modernise the 1954 Act, with an emphasis on:
* creating a legal framework that is widely used rather than opted out of;
* supporting the efficient use of space in high streets and town centres; and
* fostering a productive and beneficial commercial leasing relationship between landlords and tenants.
The Commission seeks input from industry on the preferred security of tenure model and whether the type of business tenancy created by the 1954 Act is the right one, as well as a survey seeking views on the state of the current market.
The consultation is running for 3 months, closing on 19 February 2025.
For further details and how to respond to the consultation, please click here.
If you are a commercial landlord or tenant dealing with lease renewals and terminations or, you have any concerns or questions about the impact changes to the legislation may have on you or your business, please do not hesitate to get in touch with our Real Estate Disputes team or your usual Brodies' contact.
Contributors
Partner
Associate
Senior Solicitor
Senior Associate
Legal Director
