Changes to freehold/leasehold of commercial premises

[Cathygh]

Hello

 

 

I am hoping someone could advise me.

A few years ago we bought a shop from the owner who also owned the freehold of the whole building which included our shop, another shop and several flats above. We have a standard commercial lease, we are the first tenants of the shop so we hold the head lease. Since then the landlord has sold the freehold to an investment company but our landlord took a 999 year lease on the ground floor of the property which is basically the 2 shops. The landlord was paying a peppercorn rent to the new freeholder and we paid our rent and service charge to our original landlord, as do the tenants of the other shop. recently our landlord has sold the ground floor and we have a new landlord.

My question is this - are we still the head lease or are we now the sub lease? Are our obligations eg to pay the rent even if we close the shop still the same? Has our legal position changed at all? BTW I am sorry if I have some legal terminology wrong.

regards

Cathygh

[honeybee13]

Hello and welcome to CAG.

 

I expect the forum guys will be along later, please bear with us until they're able to get here. Just to let you know that weekends are a little quieter here.

 

My best, HB

[raydetinu]

you may need legal advice!

something not quite right here, if old LL sold freehold to another company, your lease would have transferred to them, so how can Old LL then take out another lease on the same property which you already have a lease too!!! (IMHO ?) no expert in commercial law.

how long was your lease or contract?

head lease would be the one that has the longer term!

[Cathygh]

Hi

Thanks for the replies

My understanding is that the ex landlord took out a 999( more like 993 years now) year lease for part groundfloor of the building which includes our shop. This has now transferred to a new landlord. It's a very confusing situation and I will def get legal advice as if I can get out of my lease I will, unless any one knows different. BTW the other shop has just got new tenants with a new lease, same terms as us, paying market rent to the owner of the 999 year lease of the groundfloor

regards

Cathy