Glossary
Most business tenants have a statutory right to request a new lease at the end of the term. However, this is not guaranteed as a landlord has a limited right to deny this e.g. if the landlord needs to occupy the premises or if it wants to carry out redevelopment. If you want to be sure that you can renew the lease at the end of the term then you should agree this explicitly.
Negotiation tip: if the Landlord will not agree to a right to renew then you may want to suggest that the duration of the lease is longer but that you have a right to break the lease during the term e.g. instead of a 3 year lease that is renewable for a further 3 years, suggest a 6 year lease that can be terminated after 3 years.