Commerical property anyone done a long term lease

[lexi 1]

Hi all I am fed up paying rent to a landlord and have been thinking of trying to find out from local councils if they would sell any of there commercial property's

I have recently found out someone I know who owns a big commercial property just has it on long term lease from the council 30 years I think ?

Eventually he will own it in full I have never heard of the council doing this so thought about trying to find out if they have any other property they would sell or do me the same deal ! being that all councils seem to be broke !

Has anyone done it and would you share your storys ?

Thank you

[surveyor]

Sounds a very odd deal.

A lease with an option to purchase is not unusual.

A 30 year lease in itself is not normal for commercial property.

[Insurancejon]

I've seen some very odd deals done with councils, mainly to avoid/reduce their compliance for disposing of properties.

One thing I've seen round here a lot is long leases on land on peppercorn rents, but allowing the building of commercial property on it

[Chrisgr31]

Lots of Councils are buying commercial property at the moment, not selling it! This is because commercial property provides an income stream to them, and other sources of their income are reducing. As thy can borrow cheaply they are seeking to buy an income stream.

[lexi 1]

To be honest I had never thought of such an idea and was surprised

I am off to ask the council and will report back