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1. Break Clause: Optional early termination provisions, including notice periods and conditions for exercise

2. Service Charge: Provisions for shared services and recovery of costs in multi-let buildings

3. Alterations: Specific provisions regarding permitted and prohibited modifications to the property

4. 1954 Act Exclusion: Provisions excluding security of tenure under the Landlord and Tenant Act 1954

1. Schedule 1 - Property Description: Detailed description of the leased premises including boundaries and measurements

2. Schedule 2 - Rights Granted: Specific rights granted to the tenant (e.g., access, parking, utilities)

3. Schedule 3 - Rights Reserved: Rights reserved for the landlord (e.g., access for inspection, development rights)

4. Schedule 4 - Service Charge: Detailed service charge provisions, calculations and excluded costs

5. Schedule 5 - Rent Review: Detailed rent review provisions including assumptions and disregards

6. Appendix 1 - Plans: Property plans, drawings and floor layouts

7. Appendix 2 - Condition Report: Schedule of condition documenting the state of the property at lease commencement

A comprehensive 5-year commercial lease agreement in the UK should cover several key elements. Firstly, it should clearly define the premises being leased, including the exact location, size, and any shared areas. Secondly, it should outline the rent amount, payment schedule, and any provisions for rent reviews or increases. Thirdly, it should specify the responsibilities of both the landlord and tenant regarding maintenance, repairs, insurance, and utilities. Fourthly, it should address any permitted use of the premises and any restrictions or covenants. Finally, it should include clauses for termination, renewal options, and dispute resolution mechanisms.

When negotiating a 5-year commercial lease in the UK, it's generally advisable to opt for a renewable clause rather than a fixed term. A renewable clause provides flexibility to extend the lease beyond the initial 5-year period, allowing you to avoid the hassle and costs associated with relocating your business. However, it's crucial to carefully review the renewal terms, such as any rent increases or notice periods required for renewal. A fixed term lease, on the other hand, offers certainty but may limit your options at the end of the term, potentially forcing you to relocate or renegotiate a new lease entirely.