Property Asset Management Engage - Sublet

Sublet Request

If you wish to vacate the premises before the expiration of your lease, there are two primary options available:

1. Assignment (Transfer):

  • Transfer the lease to another party who assumes occupancy and responsibility for lease obligations, including rent payment.

2. Subletting:

  • Continue holding the lease and paying rent to the landlord, but sublet the space to another party, (subtenant), from whom you collect rent.

It's crucial to note that your ability to sublet the lease is governed by the terms of the occupational lease. We strongly recommend seeking advice from your legal advisor to navigate the terms effectively.

To initiate the process and seek necessary consent from the landlord, please submit the form below. The property asset manager for your building will receive the form and correspond with you, outlining any requirements for processing the application. Importantly, this form and portal do not grant consent to any application made, nor does it waive any of the landlord's rights or conditions imposed by the occupational lease.

The asset manager will highlight relevant lease terms governing the application. If the lease allows, you will be asked for specific information related to the proposed assignee, including but not limited to:

1. The full name of the proposed subtenant. If a limited company, their registered office and company number. If individual(s) then home address(es).

2.  A reference from the proposed subtenant's bank together with evidence that the bank has been notified of the liability associated with the proposed underletting agreement.

3.  If the request is in respect of part only of the tenant's demise:

        i. a scaled plan clearly identifying the proposed sub demise area outlined in blue ink.

       ii. confirmation of the measured area of the proposed sub demise, (measured in accordance with the RICS current code of measuring practice).

4.  Information on the proposed annual rent for the under lease. There may be conditions within the lease with regards to permitted sub-rent, which will be advised to you separately.

5.  A summary of the subtenant's business activity, including a copy of the last 3 years filed accounts and where possible, a copy of any business plan.

6.  A summary of the heads of terms, including a statement identifying where the proposed subtenant has requested a need to deviate from any covenant between landlord and tenant contained within the lease.

If you decide to proceed with the application, kindly complete the form below and be prepared to submit the information outlined above, upon request by the asset manager.

 

Sublet Request
Applicant's First name is required
Applicant's Last name is required
Email is required
Phone is required
Customer - full name as it appears in the lease is required
Landlord - full name as it appears in the lease is required
Property address including postcode is required
Please provide the full name of the proposed subtenant is required

If the proposed subtenant is a limited company please provide the names, addresses, email, and telephone numbers of two directors of that company.

Director 1 is required
Director 2 is required
Company Number is required

If the current customer is NOT a limited company please state the usual address, email, and telephone number for the customer after completion of the proposed subletting.

Current customer future contact is required
What is the consideration or premium payable on the proposed subletting is required
What is the proposed subtenant's intended use of the property. Please supply full details. is required
If part of the property is being used for residential purposes, does the proposed subtenant intend to occupy the same? If not what are the intentions regarding such accomodation? is required
Are any alterations to the property proposed? If so please provide copies of any plans showing the proposals and a brief description. is required
Plans for proposed alterations is required

Note. Any request to alter must be made under a separate application.

Attach a valid EPC (Rated E or higher) is required
Please provide the name, address and any reference of the customers solicitor to whom a draft licence should be submitted and confirm that the solicitor has been instructed to deal with the matter. is required