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Jo C.
Jo C., Barrister
Category: Law
Satisfied Customers: 31768
Experience:  Over 5 years in practice
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i want to take over a commercial lease (restaurant) which has

Customer Question

i want to take over a commercial lease (restaurant) which has 6 years remaining on it. the current lease holder is currently leasing from the council but wants to sell it off to me at a very good price (23k rent at 620pcm). he has given me a copy of his lease and he says i can renew the lease after the 6 years. because its from the council the best way he is suggesting is for him to add me as a co director of his catering company (which he owns and which the lease is under ) and in turn add my name to the lease as iam now also the company director. then later may be after a year he will remove himself the company as to say sell it off to me and hence his name to be removed from the lease by the council. Then il be the sole lease holder of the property. this he said is to avoid going through the council as the will want to renegotiate and itl be unlikely for me to a good deal. what advice can you give me as its my first time and i have no idea if il tie myself into something ill later regret or even worse be conned.On the bussiness side of things once iv succesfully taken over im not too conerned about. iam more conerned about the taking over part and how to be assured that i can renew it after the 6 years.

Submitted: 4 years ago.
Category: Law