A lease for use as an underlease of part of an office building.

The lease contains prescribed clauses and optional provisions if there is a tenant's guarantor.

The lease is of the whole (or part) of one or more floors of an office building and is an internal only demise. There is optional wording to include a separate storage area in the demise. The tenant repairs the demise. The lease can be used as a full repairing and insuring lease (FRI lease). Alternatively, the tenant's repair obligation can be qualified by reference to a schedule of condition.

The lease assumes that, under the superior lease, the superior landlord demised the whole building to the landlord (as tenant of the superior lease) and the superior landlord is responsible for insuring the building. Accordingly, this lease requires the tenant to pay to the landlord a proportion of the insurance rent that the landlord (as tenant of the superior lease) pays under the superior lease.

The lease contains optional provisions to deal with uninsured risks. The lease will need to mirror the terms of the superior lease in relation to the treatment of uninsured risks.

The landlord retains responsibility for the repair and maintenance of its retained parts of the building. The landlord recovers its costs through a service charge. The lease contains optional provisions if the tenant's service charge payments are to be subject to a service charge cap (subject to review at the start of each service charge year in line with the Retail Prices Index (RPI)).

The lease contains optional provisions for either an upwards only open market rent review (including an optional cap and collar on the reviewed rent) or the reviewed rent to be an agreed proportion of the revised rent payable under the superior lease. These provisions should be deleted if there is to be no rent review.

The lease also contains optional wording for a break clause.

The lease contains optional wording to enable it to be used as a renewal lease.