The new precedent has been updated to reflect changes to property law and should prove invaluable to solicitors dealing with commercial lease transactions.

The changes cover areas including Planning and Building Regulations compliance, energy ratings and sustainability, environmental considerations, rates, the Land Development Agency Act 2021 and the Screening of Third Country Transactions Act 2023.

Both the new precedent and a comprehensive explanatory memorandum are now available for download from the precedents area of the Law Society website.

In a statement, the Law Society’s conveyancing committee said it “would like to acknowledge the tremendous work of the taskforce in finalising the document with a special thanks to former committee member Mark Barr”.