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Lease advice please help?

(6 Posts)
Doingitover Sat 10-Feb-18 16:00:49

I am in the process of buying a beauticians. Books all stack up and we are ready to agree the sale.
The issue is the lease 😭
Their is 12months left so I knew I'd need to negotiate a new deal. However the lease agent has told me in order to secure 11years (I'd be happy with 5) then there is a charge of 5k which I can pay upfront or alongside the rent.
It's not a deposit. And it's not legal fees.
The current rent is £400 a month (small space) so this additional is quite a jump.
I've told him I need it all in writing before I agree anything. I don't want to lose the shop. Does anyone know if this is usual? (I've rented space before and I haven't had to pay other than admin, deposit, rent) TIA x

delilahbucket Fri 16-Feb-18 17:02:54

Is there anything in the current contract about this? If not, I suppose he's got you because he knows you don't want to move and he can charge whatever he wants. I've known this happen with estate agents, Reeds Reins did it to me. It's legal, but definitely not ethical.

Viviennemary Fri 16-Feb-18 17:08:22

When you say you're buying a Beauticians do you mean you're buying the business but renting the shop which has only 12 months left on the lease? You need to get some legal advice on this before proceeding. I would wonder if the person selling has decided that renewing the lease on these particular premises would cost too much. Be careful. Hope things work out.

Allthebestnamesareused Fri 16-Feb-18 17:09:52

It's quite usual for there to be a lease premium as well as rent and both sound really low.

Get your solicitor to check the terms of the lease thoroughly though for rent increases, dilapidations etc

Viviennemary Fri 16-Feb-18 17:14:52

When you say you're buying a Beauticians do you mean you're buying the business but renting the shop which has only 12 months left on the lease? You need to get some legal advice on this before proceeding. I would wonder if the person selling has decided that renewing the lease on these particular premises would cost too much. Be careful. Hope things work out.

Viviennemary Fri 16-Feb-18 17:15:20

Double post. Sorry!

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