Assignments, Underlettings and Licences to Alter

Overview

Most commercial leases restrict disposal and alterations. Consents are commonly required and are often documented by formal licences with conditions.

Assignment and underletting

Common requirements include:

• landlord consent and pre-conditions (references, financial information);
• authorised guarantee agreements (AGAs) in certain circumstances;
• form of underlease requirements and rent alignment provisions.

Licences to alter

A licence commonly regulates:

• the scope and method of works;
• compliance with statutory requirements;
• reinstatement obligations;
• supervision and costs;
• evidence (plans, building control, warranties).

How Royce Legal can help

Royce Legal can advise on lease permissions, negotiate workable consent conditions, and prepare licences that reduce future dispute and reinstatement risk.