Lease surrender
« Back to Glossary Index
A lease surrender is an agreement whereby the parties bring a lease to an end other than by
contractual expiry or the exercise of a break option. Frequently involves negotiation of a surrender
premium by one party to the other, but may rely on mutually beneficial release, e.g. early
termination of a lease where the tenant is no longer in occupation and the landlord is able to re-let
or refurbish/redevelop early.