The Inn is responsible for the upkeep, letting and management of 43 buildings located in and adjacent to the Middle Temple.
Professional Chambers, Residential Chambers and two commercial tenants are situated in the majority of these buildings. In addition we have approximately 100 car parking spaces and a small range of lock up cellars in some of our buildings.
The majority of our Professional Chambers are let on leases for a term of 6 years and are subject to a mid-term rent review.
We have 54 Residential Chambers. Save for the flats which are allocated for the use of our staff, the flats are let to Masters of the Bench, Members of the Inn or their surviving relatives Theses are let on Assured Shorthold Tenancies for a term of four years, again subject to a mid-term rent review.
The Inn’s tenants greatly benefit from being able to terminate their tenancies by serving on the Under Treasurer not less than one full quarter’s written notice. Many Professional Chambers find this to be of great value in terms of flexibility and financial commitment.
When a tenant gives notice to terminate a tenancy, the Inn instructs external Property Consultants to inspect the Chambers and advise upon the terms to be quoted for re-letting. The rental quoted in our Screening Document includes the cost of services provided by the Inn but excludes Business Rates, Council Tax, VAT (if applicable) and the cost of utilities.
The departing tenant is required to fully redecorate the Chambers prior to handing possession back to the Inn. This policy has been strictly enforced since July 1999 and means the tenant returns the Chambers to the Inn in the same condition they were when the tenancy commenced.
Adjacent to Queen Elizabeth Building and Brick Court are the two principal car parking areas. Spaces are let on contract to the Inn’s tenants and also occupiers of premises nearby.