For many parties involved in a commercial property transaction, exchange of contracts feels like the finish line. Months of negotiations, due diligence, financing discussions and legal drafting have finally produced a binding agreement. The uncertainty that characterised the earlier stages of the deal appears to have fallen away, and buyer and seller can begin to…

Earlier this year, we covered why the 2025 UK retail property recovery was contractual, not speculative, which was largely driven by rebased income, disciplined lease structures and assets that had already repriced through the cycle.   Six months on, the story has developed. What was a recovery is beginning to look like conviction, and the decisions…

Commercial landlords in England and Wales have been operating under considerable uncertainty about the future of energy efficiency requirements for some time. The current minimum standard, an EPC E rating, has been in place since 2018, but successive consultations have pointed toward a significantly higher threshold, leaving landlords and their advisers working toward targets that…

When a tenant approaches a commercial landlord with a request to sublet, the consent process can appear straightforward on the surface. Check the lease, instruct solicitors, issue a licence. The risks of getting it wrong, however, are anything but straightforward. A poorly assessed consent decision can erode rental tone across an estate, introduce operationally incompatible…

When a commercial lease approaches its end, the question of what a tenant leaves behind and what they take with them can become one of the most contested and financially significant issues in the entire landlord-tenant relationship. Reinstatement clauses sit at the heart of this question, yet they are frequently misunderstood, poorly drafted, or treated as an…

The commercial property market is facing a genuine reckoning. Office demand has fragmented in the wake of hybrid working. Retailers have restructured, surrendered space and in some cases disappeared entirely. Household names that once anchored buildings and business parks have downsized, entered CVAs or vacated without warning. The lesson of recent years is that covenant strength, that long-cherished proxy…

For decades, the withholding of a retention payment has been a common feature of construction contracts across the UK and is provided for in many standard forms including JCT and NEC. Contractors have worked under a system in which a percentage of their agreed contract sum was withheld by clients and main contractors as security against defective work. For contractors lower down the supply chain, that has long meant operating with money earned but…

Buried in the Housing Act 1988 was a legal quirk with nothing to do with short-term renting, and everything to do with the security of people who owned their homes on long leases. For years it caused real difficulties for buyers, sellers and mortgage lenders. Quietly, in the background, without most of those affected ever knowing it was there.…