# LEASE EXTENSION AGREEMENT
Date: 15 May 2029
Parties: Westmere Estates Limited and Calder Studio Limited
## 1. Parties, property and legal character
Westmere Estates Limited (Company No. 06770122), registered owner of Unit 4, Mill Yard, 18 Foundry Lane, Leeds LS10 1AB, and Calder Studio Limited (Company No. 08144018), the tenant under a lease dated 1 June 2019, agree this deed of variation. The original lease, plan and rent deposit deed remain identified documents.
## 2. Term, price and financial arrangements
The contractual term is extended from 31 May 2029 to 31 May 2034. The premises remain Unit 4, approximately 2,100 square feet, for design studio and ancillary office use. This is a negotiated commercial variation, not a new demise and not an exercise of a statutory right under the Leasehold Reform Acts.
## 3. Use, possession and operating duties
Base rent from 1 June 2029 is £42,000 per annum plus VAT, payable quarterly in advance. The rent review on 1 June 2032 is open-market with an upward-only floor at the passing rent; service charge remains an estimate reconciled against reasonable expenditure and the existing insurance rent continues.
## 4. Condition, repairs and compliance
Calder remains responsible for repair under the original schedule of condition, internal non-structural maintenance and statutory compliance for its business. Westmere maintains the structure and common parts. No alteration, assignment or underletting consent is granted by this deed; existing break right on 31 May 2032 remains exercisable on six months' notice.
## 5. Notices, default and ending
The landlord will provide an updated rent statement and, if required by the mortgagee, obtain its consent. The tenant will keep its public liability insurance at £5 million, provide certificates, comply with fire and planning requirements and permit reasonable inspection on 48 hours' notice.
## 6. Liability, data and dispute handling
All original provisions, including forfeiture, notices, insurance, service charge, yielding up and dispute clauses, continue. A material breach is not waived by accepting rent. If an inconsistency exists, this deed prevails only for term and rent expressly changed; no release, surrender or security discharge is intended.
## 7. England and Wales law and signatures
This deed is governed by England and Wales law. It is executed as a deed by each company through an authorised director in the presence of an independent witness; each party has been advised to obtain separate property advice. Land Registry registration, SDLT and any mortgagee requirements remain the parties' responsibility.