The University Low REAL ESTATE (KNOWLEDGE) Unit 13 Guide Lease Alienation Context In this Unit you will be concentrating on the lease of Kenulf House, 34-38 Fletton Street, Peterborough PE1 3LR ("Kenulf House") by Arcadian Investments Limited ("Arcadian") to Cambridge Data Systems Limited ("CDS"). You have seen the need for the parties to take great care to ensure that the terms of the Lease are mutually acceptable as these terms will govern the relationship between landlord and tenant for the duration of the Lease. One of the reasons for a tenant to seek to take a lease of a property rather than buy the freehold is that leasehold properties can be more flexible. For example, if a tenant's business requirements should change, it can move on to alternative premises at the end of the term of the lease. It is common, however, for a tenant's business requirements to change during the term and a tenant may wish to move before the lease comes to an end. It is this situation that you will be concentrating on in this Unit. During this Unit therefore you will be analysing the covenants contained in a typical commercial lease relating to alienation. As a trainee solicitor in a real estate department, you will be expected to run such matters on behalf of a landlord or a tenant with limited supervision. This Unit will help prepare you for this. Outcomes By the end of this Unit you should be able to: 1. Analyse the provisions relating to alienation contained in a typical commercial lease and apply the relevant statutory provisions. 2. Understand the purpose and content of a licence to assign. 3. Explain the procedure for the assignment of a typical commercial lease and how it differs from the procedure on the sale of a freehold property. Unit Workshop Tasks In this Unit Workshop you will complete tasks on: 1. Discussing the lease provisions and the statutory provisions relating to alienation covenants. 2223_re_ws13_ce01_guide 211 @ The University of Law Limited
The University, of Law 2. Reviewing a draft licence to assign. 3. Explaining the procedure for the assignment of a typical commercial lease and how it differs from the procedure on the sale of a freehold property. Preparation To prepare for this Unit Workshop you should: 1. Read Chapters 36 and 37.3.13 of the Property Law and Practice textbook. 2. Review your notes from the Real Estate Recorded Lecture "Leasehold Covenants". 3. Complete Test and Feedback Unit Workshop 13 (Preparation). 4. Complete the Preparatory Tasks. Materials required for the Unit Workshop 1. Your notes on the reading and the Preparatory Tasks. 2. The Property Law and Practice textbook. 3. This Guide. 4. The Lease of Kenulf House. 5. The draft Licence to Assign. Consolidation after Unit Workshop It is important that you consolidate your learning. In particular you should: 1. Revise your answers to the Preparatory Tasks and the Unit Workshop Tasks in the light of the feedback you received in the Unit Workshop. 2.