Management

produce a ‘Heads of Terms’ for a new lease as described below for each of your two chosen scenario based upon the Code for Leasing Business Premises.
You should, for each scenario, make explicit reference to professional body guidance and recommendations, whilst placing these within a market context and expressly stating the limitations associated with current and recommended/ best practice.
For each scenario you are required to:
(i) Identify, explain and evaluate the main objectives of both a hypothetical landlord and tenant
(40%)
(ii) Acting in the capacity of a quasi-independent expert, provide a hypothetical ‘identity of views’ recommendation with respect to an appropriate ‘compromise’ (if appropriate) in terms of resolving the competing objectives of the parties involved. This should facilitate the successful granting of a new lease having regards to current market conditions.
(60%)
Please ensure that you have regard to the 2007 Model Heads of Terms taken from the ‘Code for Leasing Business Premises’ to inform the contents of your assignment. You must have regards to current market conditions, evidence and professional guidance when undertaking this assignment. Module Assessment Criteria is available via the module descriptor.
You should reference all resources both directly used or consulted.
The Scenarios
Choose TWO differing scenarios . Typical examples are shown below:
1 A secondary 2000m2 1970’s-built portal framed industrial unit situated within an industrial estate on the periphery of a northern ex-industrial town, e.g. Wigan/ Blackburn/Rotherham or Barnsley.
2 A prime 1500m2 ‘grade A’ office floor plate situated in the prime business district of a major UK city, e.g. London, Manchester, Bristol, Cardiff.
3 A mid-sized retail unit contained within the heart of a tourist-focused English city, e.g. York, Chester, Bath.
There must be clear differentiation in terms of market conditions and property types between your two selected scenarios.