The lease has been drawn up by a solicitor. The present owners of the shop (the ones that are going to sign the lease with) mentioned that in a month or so they may want to sell up. There is already interest from others in buying the shop. If we have signed a lease and someone buys the shop can they kick us out if they want to open and run their own business or does the lease cover us for thisCan anyone advise on this situation please? We are thinking of taking a lease on a shop for 3 years?
NOT if your lease does not include an automatic buy out clause/right
of your lease by a new property buyer.
If you get a 1 yr lease +++, you are safe for that period of time.Can anyone advise on this situation please? We are thinking of taking a lease on a shop for 3 years?
Your Solicitor will tell you for sure, but as far as I am aware (I had a business lease) you are safe for the next 3 years. Think though, is it worth it If you make a complete success of your business in 3 years you might have to look for new premises. That will mean your customers moving with you and change of address of everything.
read all the small print do not be afraid of changing anything you do not like or does not suit
for instance capping the rent to inflation rates --you may want that
and you may want just to give a months notice if things are not going well --not be tied in for ages
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