Hi , My husband and I own the freehold of a cafe. The tenants were due to exercise their option on another five years last September. The Lease stipulated that there would be an Independent Valuer to set the rent at this time. The tenants expressed their concerns and we agreed with them, that we would leave the rent as is, with the usual percentage increase, as in previous years. The tenants went into voluntary liquidation in June and now the liquidator owns all the equipment. My husband is under the impression that because the tenants didn't exercise their intention for another option of five years they may not have had a valid lease at the time of liquidation, meaning that the liquidators had entered the premises illegally and they don't own the equipment. I don't agree with him. I would love to know someone else's opinion.
Thanks Anita Louise
Thanks Anita Louise