Two new Subleases of Part have now been published on the PSG website and are available on the Subleases page.
The new styles are specifically designed to be used for a subletting of part only of the premises let by the head lease; this is invariably used in situations where a mid-landlord occupies more space than it requires under its lease – as partial assignation is not usually a possibility.
These styles are based on the corresponding templates previously published for subletting of the whole of the let premises and once again there is a version drafted to be compatible with the PSG suite of leases and a further version available for use with other styles of lease.
The new style is based on a subletting of a single floor (in a lease of a number of floors) within a multi occupied office building.
The style will require to be tailored to cater for other situations e.g. if the subletting was of part of a floor (where the entirety of the floor was leased to the mid-landlord) and subdivision was now required to facilitate the particular subletting. A new category of common parts would be created by any such subdivision (e.g. a shared lobby/reception/toilets) and this may need a separate classification of service charge to cater for the maintenance of such “new” common parts.
A further consideration is reaching agreement on the subtenant’s proportionate liability for the monetary payments which flow from the head lease e.g. insurance.
The Guidance Notes have been updated to explain the distinctions between the suite of (now) four Subleases.
As ever, we welcome comments on these new documents. Our contact details can be found on the PSG website Contact us page.