Deed Of Variation Commercial Lease for the United Kingdom

Deed Of Variation Commercial Lease Template for England and Wales

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Deed Of Variation Commercial Lease

"I need a Deed of Variation Commercial Lease to modify our existing retail lease at 123 High Street, London, extending the lease term by 5 years from March 2025 and increasing the annual rent to £75,000."

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What is a Deed Of Variation Commercial Lease?

A Deed of Variation Commercial Lease is essential when parties need to modify terms of an existing commercial lease in England and Wales without surrendering and regranting the lease. This document is commonly used when circumstances change, such as alterations to rent, lease term, or permitted use of the property. It must comply with the Law of Property Act 1925 and related legislation, and typically requires registration at the Land Registry if the original lease was registered. The deed preserves the original lease's validity while incorporating agreed changes, making it a crucial tool for commercial property management.

What sections should be included in a Deed Of Variation Commercial Lease?

1. Parties: Details of the landlord, tenant, and any guarantors

2. Background: Details of the original lease and reason for variation

3. Definitions: Key terms used in the deed including Original Lease, Variation Date

4. Variation: Specific terms being varied in the original lease

5. Confirmation: Confirmation that all other terms remain unchanged

6. Execution: Formal execution blocks for all parties

What sections are optional to include in a Deed Of Variation Commercial Lease?

1. Registration: Requirements for registration at Land Registry when variation affects a registered lease

2. Guarantor Provisions: Confirmation of guarantor's continued obligations when original lease includes guarantors

3. Costs: Provisions regarding payment of costs between parties

What schedules should be included in a Deed Of Variation Commercial Lease?

1. Schedule 1 - Original Lease: Copy or details of the original lease being varied

2. Schedule 2 - Variations: Detailed list of specific variations if extensive

3. Schedule 3 - Plans: Any updated plans if variation affects demised premises

4. Appendix 1 - Land Registry Compliant Plans: Plans meeting Land Registry requirements if registration needed

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author