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| 1 minute read

Loewe’s Bond Street takeover – Permission to fly the flag?

If you take a stroll down Bond Street throughout September, you will no doubt spot Loewe’s takeover; an array of flags stretching from Piccadilly to Oxford Street, featuring Loewe’s key print from their Autumn/Winter collection and their iconic logo.  

Whilst, of course, we cannot comment on Loewe’s and Bond Street’s agreement in relation to the prominent feature, the display acts as a reminder that many commercial leases feature a clause which prohibits a tenant from displaying notices, signs, posters and advertisements outside their demised premises unless they have prior written consent from their landlord. So, before you go following in Loewe’s footsteps, it is important to check the terms of your lease to determine whether landlord’s consent is required. 

In addition to consent for advertising, commercial leases usually require landlord’s consent if a tenant wishes to (amongst other things) assign, under-let or make any alternations to the property. A failure by a tenant to obtain their landlord’s consent when required to do so could result in their landlord pursuing a claim against them for breach of the lease, which may involve a claim for damages, specific performance, an injunction or forfeiture. Some of these remedies, if successful, could lead to a lease being terminated. 

If you are a commercial tenant and are considering making any substantial changes to your property and are concerned about the impact this may have on your lease, it is important to seek advice at an early stage so that you are clear on your position prior to making any changes. 

Tags

fashion and luxury, real estate disputes