Hi there,
Im just seeking some information, please? I have a commercial lease with 8 months to go with an option of 2 yrs.
My intention when I started this business was to build it up to on-sell, which I m currently in the process of doing.(prospective buyer wants a 5 plus 5 plus 5, which would be easy enough to assign to them)
But in the meantime my landlord has sold the property and the new owners of the property will not extend after the 2 yrs option and are not interested in assigning the current lease. So basically I have NO BUSINESS to sell, because really who in the right mind would purchase a business for only a two year period with nothing at the end of it. And I have lost the prospective buyer.
The sale of the property has not settled yet, I am appealing to my current landlord to assign the lease whilst still under his ownership - Is this a possibility?
Even if I wasn't intending to sell where does this leave me and my business at the end of the 2 years option period? With nothing? I really don't see any point in continuing to pour my heart and soul into this business when at the end of the 2 yr option period I am left with nothing. Can you please offer any advice?
Im just seeking some information, please? I have a commercial lease with 8 months to go with an option of 2 yrs.
My intention when I started this business was to build it up to on-sell, which I m currently in the process of doing.(prospective buyer wants a 5 plus 5 plus 5, which would be easy enough to assign to them)
But in the meantime my landlord has sold the property and the new owners of the property will not extend after the 2 yrs option and are not interested in assigning the current lease. So basically I have NO BUSINESS to sell, because really who in the right mind would purchase a business for only a two year period with nothing at the end of it. And I have lost the prospective buyer.
The sale of the property has not settled yet, I am appealing to my current landlord to assign the lease whilst still under his ownership - Is this a possibility?
Even if I wasn't intending to sell where does this leave me and my business at the end of the 2 years option period? With nothing? I really don't see any point in continuing to pour my heart and soul into this business when at the end of the 2 yr option period I am left with nothing. Can you please offer any advice?