The Landlord and Tenant Act 1954 is a key piece of legislation in the United Kingdom that governs the rights and responsibilities of landlords and tenants in commercial property leases. It provides tenants with security of tenure, meaning they cannot be evicted without a valid reason, and outlines the process for lease renewal, ensuring that tenants have the opportunity to continue their business in the same location. This Act also sets out the grounds on which a landlord can refuse to renew a lease, such as non-payment of rent or the landlord's intention to occupy the property themselves. Overall, the Act aims to balance the interests of both landlords and tenants, promoting fair practices in commercial leasing.