tenant needs help from a repossession

[thekaver]

hi guys,

 

just looking for some advice. Ive taken over a new shop in jan this year and signed a 6 year lease with a right to buy in 12 months. We have spent alot of money doing it up.

 

However we have just recieved a notice saying the building is getting repossessed from the landlord in 2 weeks time and the landlord and any occupiers must vacate the property by then.

 

were does this leave us legally? are we entiteld to stay put or do we have to go? We are in a position were we could buy the building but would we get first refusal?

 

thanks

[thekaver]

bump!

[MrShed]

Commercial letting can be a bit of a minefield.

 

Given the circumstances, I would strongly advise employing a solicitor to look at this.

 

Was the notice received from a court?

[thekaver]

yes the notice was from the court! he said unless i hear otherwise (meaning unless she sorts it out) then ive got to leave on that date.

 

Ive booked an appointment for tomorrow (tue) to get some legal advise on it, however i was ust trying to fish for some info in the mean time!

 

im just hoping i have a leg to stand on!

[MrShed]

If this was a residential tenancy, then if the lender had given their permission to let the property, they are bound to this agreement if they need to repossess.

 

I cant imagine that the rules are much different for commercial, but I am not 100% sure.

 

However, in any event, you may be able to sue the landlord for breach of contract and your subsequent losses (which could be sizeable). But, if she is getting the property repossessed, chances are she isnt flush with cash.

 

Has the notice specified the details of the lender?

[thekaver]

yes the lender is lloyds tsb. which i know his he commercail mortgage.

 

we do also have a right to buy on the property is 12months which im hoping doesnt get revoked in the repossession.

 

im just hoping a solicitor can speak to them on our behalf and negioite for us to stay their and buy the property striaght away from lloyds!

 

this is a nightmare for us though