United Kingdom: Contracts and Commercial Law

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Business Tenants Can Benefit From Both A Contractual Renewal Option And A Statutory Right To Renew
The Court of Appeal has ruled that business tenants holding leases with contractual renewal options can still benefit from statutory security of tenure under the Landlord and Tenant Act 1954. This landmark decision clarifies that an option to renew does not constitute an agreement for a future tenancy that would exclude the lease from statutory protection, giving tenants the flexibility to choose between their contractual and statutory renewal rights.
United Kingdom Real Estate
TS
Travers Smith LLP
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