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Alex J.
Alex J., Law
Category: UK Property Law
Satisfied Customers: 3493
Experience:  LPC, 2 Years Conveyancing
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I am considering acquiring a commercial property,, the terms

Customer Question

Hi..I am considering acquiring a commercial property,,
the terms offered incuded a premium of £80000.for a 21 year lease
Submitted: 1 year ago.
Category: UK Property Law
Customer: replied 1 year ago.
plus an annual rent of £22000. What is the premium for and is is justifiable? . Do I have grounds to ask for this to be removed?
Expert:  Alex J. replied 1 year ago.

Hi Thank you for your question. Is there a business currently being operated at the site? Do you plan to take over the business? Kind regards AJ

Customer: replied 1 year ago.
There is no business currently being operated on the site and I will be operating a total new business
Expert:  Alex J. replied 1 year ago.
Hi,
Thank you.
The landlord is entitled to charge a premium if he wants. Does the lease have any other favourable terms for example no rent review or a rent free period until you start trading?
Kind regards
AJ
Customer: replied 1 year ago.
Thanks....I think i have all the information I need as I do not want to be charged further ..thanks
Expert:  Alex J. replied 1 year ago.
No problem.
Please do not hesitate to contact me if I can assist any further.
Kind regards
AJ

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