A commercial Deed of Variation specified changes such as adding new permitted usage rights, or removing existing restrictions between both parties. E.g. hours of operation to be extended, type of business to be conducted.
Deeds of Variation are useful documents that are used to alter specific provision in an existing lease. They are used for high-value contracts or mostly for significant changes to be made.
Whether you are a Landlord or a Tenant, over time your business interests may have changed and your premises needs might be different to what they once were.
A Deed of Variation allows you to amend the original lease both parties signed up to. Varying a lease in this way allows both parties to flex their business needs and often it can mean the length of tenancy is preserved or lengthened, rather than the tenant looking elsewhere for different premises. They can stay in their existing premises with simple modifications that suit both parties.
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