2006-07-11 06:07:55 · 7 answers · asked by ganny 1 in Business & Finance ➔ Small Business
The lease comes up for renewal, the freeholder then has to make a decision regarding the future of the property.
2006-07-11 07:47:23 · answer #1 · answered by Veritas 7 · 3⤊ 0⤋
The lease expires. Get a copy of the lease and read it. It will tell you what happens at expiration.
I can't be more helpful than that because I don't know what you mean by newsagents.
2006-07-11 13:12:15 · answer #2 · answered by Farly the Seer 5 · 0⤊ 0⤋
Before the 8 years is up you need to re-negotiate the lease with the landlord, or look for new premises. Its the 'rent' not a license agreement.
If the landlord is happy with the current arrangement, they may give you a new lease; if they want to re-develop the property then its unlikely but they may have other properties that might be suitable. You really need to speak to whoever owns the property.
2006-07-11 13:14:18 · answer #3 · answered by sarah c 7 · 0⤊ 0⤋
You need to read the lease document. This will tell you what happens at the end of the lease. The owner may wish to demolish the building, change its use or just let it continue. As the lessee you will have the first option on a new lease, if there is one.
2006-07-11 16:42:13 · answer #4 · answered by Supascrew 1 · 0⤊ 0⤋
It reverts to the freeholder. In some leases, there is the right to extend the lease when is expires - but you really need a commercial property lawyer - NOT Yahoo Answers
2006-07-11 13:11:47 · answer #5 · answered by Anonymous · 0⤊ 0⤋
You have to renew your licence after 8 years
2006-07-11 13:11:05 · answer #6 · answered by Anonymous · 0⤊ 0⤋
You have to apply for a new lease & hope they re-new it.Goodluck
2006-07-11 16:59:25 · answer #7 · answered by Ollie 7 · 0⤊ 0⤋