Held to ransom by landlord?

Discussion in 'General Business Forum' started by maria102, Sep 1, 2008.

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  1. BarryM

    BarryM UKBF Newcomer Free Member

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    PGs are the biggest nightmare. I agree - get the company limited and agree to have PGs deleted after a year if possible.

    If in the future you have multiple sites and just one that is trading unprofitably, having separate Ltd. companies as leaseholders and no PGs will potentially be invaluable.
     
    Posted: Sep 3, 2008 By: BarryM Member since: Jul 11, 2008
  2. maria102

    maria102 UKBF Newcomer Free Member

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    I am thinking more like this, I need to get a move on and have invested a lot on it - won't asking them to remove the personal guarantee raise suspicion after a year?

    Oh, the other thing is, I have been trading under this limited company for over a year as an IT contractor.
     
    Last edited: Sep 3, 2008
    Posted: Sep 3, 2008 By: maria102 Member since: Oct 25, 2005
  3. Mattonella Tile Studio

    Mattonella Tile Studio UKBF Ace Free Member

    1,677 319
    Is there a fair chance of getting the PG deleted? We're limited but our solicitor just said to us 'as you're limited you'll have to sign PG' as if that was the only way of doing things.
     
    Posted: Sep 3, 2008 By: Mattonella Tile Studio Member since: Jun 10, 2008
  4. BusinessDeli

    BusinessDeli UKBF Enthusiast Free Member

    553 99
    You must be really invested emotionally in this place to still be considering it! There must be other leasing agents in Manchester.
    Have you thought about posting in the commercial property area of www landlordzone co uk? (I would have put in a link but the site won't let me until I make 15 or more posts!)

    You may find a useful contact in terms of finding a suitable agent and property...
     
    Posted: Sep 3, 2008 By: BusinessDeli Member since: Sep 2, 2008
  5. maria102

    maria102 UKBF Newcomer Free Member

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    There are more factors than emotional invovlement:
    (a) Cost so far with solicitors, references etc
    (b) I have done a lot of research regarding areas and this is very specifically one of the best options.
    (c) Orders etc are placed and its difficult getting good labels on board, without cancelling orders on them.
     
    Posted: Sep 3, 2008 By: maria102 Member since: Oct 25, 2005
  6. The Londoner

    The Londoner UKBF Newcomer Free Member

    5 1
    Maria,

    I'm a commercial property agent, albeit London based. I'm being a bit lazy but if you could summarise what the problem is to save me trawling through 13 pages of posts I would be pleased to see if I can add £0.02's worth to see if that helps out.

    Regards

    Richard
     
    Posted: Sep 3, 2008 By: The Londoner Member since: Sep 4, 2006
  7. complete

    complete UKBF Newcomer Free Member

    109 25
    Hi Maria

    When I took on my commercial property in 1996 we had an agreement (Which was in the lease) that personal guarantees would be valid for 12 months from the start of the lease term.

    We initially took a 3 year lease.

    I have always had 3 year leases up until this years renewal, when my landlord demanded a 10 year lease with no break clause. Rent fixed for 6 years and then an upwards only review after 6 years for the remaining 4 years.

    I was umming and arring about this, and got solicitors involved, whom advised we could go to court, but the costs involved would have equated to nearly 2 years Rent.

    In the end I agreed to the new lease as is, due to the fact that I just wanted to know where I was for the forseeable future and the fact I now have a 10 year lease, if I wish to, I can sell on the balance of the lease as as goodwill.

    Unless your situation as a whole would cost you more than 1 months rent free in costs and time and lost business, I would personally think, sod it, I am going to get on with my business and start bringing in an income and enjoy my new life and take on the property you have worked hard for.

    Landlords are shisters, Commercial agents are shisters and solicitors are a law unto themselves. (In my experience) and it would benefit them for you to continue your search whilst they reap the benefits.

    Just try and get PG's fixed for a certain period and have the lease put in the Ltd company name.

    If you want to talk pm me....

    Cheers

    Adam
     
    Posted: Sep 4, 2008 By: complete Member since: Mar 26, 2008
  8. The Londoner

    The Londoner UKBF Newcomer Free Member

    5 1
    Loving the broad brush of generalisation there Adam! :rolleyes:
     
    Posted: Sep 4, 2008 By: The Londoner Member since: Sep 4, 2006
  9. complete

    complete UKBF Newcomer Free Member

    109 25
    Thats why I said in my experience - No offence to all the decent ones. :D

    Maria sounds like she has a right one there.
     
    Last edited: Sep 4, 2008
    Posted: Sep 4, 2008 By: complete Member since: Mar 26, 2008
  10. Guest

    0 0
    Is the location very important to you?
    Or is it a type of business that dosn't require a lot of passing trade?
    J
     
    Posted: Sep 4, 2008 By: Member since: Jan 1, 1970
  11. maria102

    maria102 UKBF Newcomer Free Member

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    No, location is king I am afraid! :redface:
     
    Posted: Sep 4, 2008 By: maria102 Member since: Oct 25, 2005
  12. BusinessDeli

    BusinessDeli UKBF Enthusiast Free Member

    553 99
    Out of interest, what are the requirements for this place? Location, floor space, budget etc?
     
    Posted: Sep 5, 2008 By: BusinessDeli Member since: Sep 2, 2008
  13. maria102

    maria102 UKBF Newcomer Free Member

    3,633 469
    Can you believe it, I backed down on this and took it on the chin and decided to pay up and now the landlady has pulled out of the lease!! She has decided to she is only selling....and has blown me out! :eek:

    What a ****** ***** ****!! I feel like taking her to court!
     
    Posted: Sep 5, 2008 By: maria102 Member since: Oct 25, 2005
  14. Eleanor

    Eleanor UKBF Newcomer Free Member

    390 48
    :eek:

    I don't even know what to say. Do you reckon then that the estate agents were going back to her and it was her being a fuddy duddy all along? What a crap time of it you've had.

    I don't even know what to say that could help?
     
    Posted: Sep 5, 2008 By: Eleanor Member since: Mar 3, 2008
  15. maria102

    maria102 UKBF Newcomer Free Member

    3,633 469
    Yep, maybe I was just blaming the agents and it was her! He did say it wasn't the first time that she had changed her mind, though thats what they said about me! My head is like one big bleeping machine at the moment, and it will soon get worse when I purchase a bottle of vino to drown my sorrows :(
     
    Posted: Sep 5, 2008 By: maria102 Member since: Oct 25, 2005
  16. Mattonella Tile Studio

    Mattonella Tile Studio UKBF Ace Free Member

    1,677 319
    Maria I feel for you. I won't say it obviously wasn't meant to be as I don't think that will help. I wish you luck in finding somewhere even more perfect though.
     
    Posted: Sep 5, 2008 By: Mattonella Tile Studio Member since: Jun 10, 2008
  17. complete

    complete UKBF Newcomer Free Member

    109 25
    I am also sorry to hear the news.

    And i thought my landlord was bad.

    Wonder what would have happened if you had signed the lease a few days ago.

    What has your solicitor said?
     
    Posted: Sep 5, 2008 By: complete Member since: Mar 26, 2008
  18. maria102

    maria102 UKBF Newcomer Free Member

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    The solicitor dipped out of negotiations after reviewing the lease, and on reflection, if I had signed the lease a couple of days ago, I probably would have just bought myself a whole load of heartache as it turns out the landlady was very inexperienced with the business side of things.:rolleyes:
     
    Posted: Sep 5, 2008 By: maria102 Member since: Oct 25, 2005
  19. Eleanor

    Eleanor UKBF Newcomer Free Member

    390 48
    Well, either way, heartache or otherwise you don't have a great deal of time to get a place sorted to sell from. Once your Autumn stock comes in your going to need some way of selling it. Are you online yet?

    :|
     
    Posted: Sep 5, 2008 By: Eleanor Member since: Mar 3, 2008
  20. shellybelly

    shellybelly UKBF Newcomer Free Member

    7 0
    Stick to your guns,everyone is desperate to let at the moment.We have just taken on an 8000 sq ft building and managed to get 3 months free rent from a guy who owns half our town.Its that or they carry on paying the business rates.
    Like you said,its been empty for a year(was it?) lots of people cant afford or havent got the bottle to set up a new business in these economic times,good for you!!
     
    Posted: Aug 30, 2010 By: shellybelly Member since: Aug 15, 2010
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