In uncertain times, break clauses can give flexibility to a landlord and/or a tenant by allowing them to terminate the lease before the contractual termination date. Most though are strictly subject to conditions and rules that must be complied.
Failure to do so can mean that serving a notice to break is ineffective. This can be extremely costly to a landlord or a tenant who would then remain liable under the lease for potentially many years to come.
Any landlord or tenant considering exercising an option to break should obtain advice in plenty of time before the deadline set out in the break clause to ensure that those conditions and rules are satisfied.
For advice please contact a member of our Commercial Property team.