Commercial lease/change of Landlord ??

[monaco]

Hi

Just a quickie,

we have business premises in part of a large building, on which we have a commercial lease, the landlord is more than likely going to sell the entire buildings freehold, ( too large for us to buy the freehold unfortunately )

My question is, will the new owners have to honour the existing lease and all the clauses it contains ??

Cheers

[Piglet]

In a word "yes" other than any obligations that are specifically stated to be personal to Joe Bloggs Landlord. It's unlikely that they'll be many of these in the lease - possibly any side letter that you might have that varies the lease in any way or any obligation on the landlord to pay you a contribution to fit out costs etc. (unlikely to be relevant if you've held the lease for some time).

[usual proviso that I haven't seen the lease and you should get legal advice based on the lease]

[superlightr]

as above poster said, it should not be a problem or an issue to you. Our building has been sold twice over the last 8 years with no material difference to us as business leaseholders.

Commercial freehold is generally a good long term investment (usual provisos) would any of the others in the building look to purchase 50/50 etc?