Moving into business premises

[Mr_Miyagi]

Hello everyone.

I'm looking for some pointers / advice on taking on a high street store premises.

I have viewed the property and fit's in perfectly with what I need to help the growth on my business.

Business has been operating since March and, thankfully, with very little sleep and hard work has grew arms and legs.

I viewed a property today that has been empty for sometime, lack of electricity and heating has had it's effects on the property. Now, in terms of keeping myself right and not being fleeced or the cotton pulled over my eyes, what should I be asking for in term of taking this lease on?

Areas in question is plumbing, electrics, lighting, ceiling (false hanging ceiling) front shop (no shutters) floor etc.

Kind regards!
TT

 

[The Byre]

Some commercial properties are empty because the location is bad. They are empty for a reason!

 

[Mr_Miyagi]

Some commercial properties are empty because the location is bad. They are empty for a reason!

Not what I was looking for but thank you for your input.

 

[Mr D]

Hello everyone.

I'm looking for some pointers / advice on taking on a high street store premises.

I have viewed the property and fit's in perfectly with what I need to help the growth on my business.

Business has been operating since March and, thankfully, with very little sleep and hard work has grew arms and legs.

I viewed a property today that has been empty for sometime, lack of electricity and heating has had it's effects on the property. Now, in terms of keeping myself right and not being fleeced or the cotton pulled over my eyes, what should I be asking for in term of taking this lease on?

Areas in question is plumbing, electrics, lighting, ceiling (false hanging ceiling) front shop (no shutters) floor etc.

Kind regards!
TT

You pay the rent agreed with the landlord. If he wants £15k a year and won't budge then that's what you pay.
Make sure a decent solicitor working for you (ie not his solicitor) examines the lease before you sign it.

 

[Deleted member 59730]

Negotiate hard. Ask for a substantial rent free period. Ask for a rent reduction spread over a couple of years to cover the cost of fit out. Ask for a get out clause without penalties. etcetc

 

[MEAVO]

Similar to buying a property, perhaps you could have someone look at the place before signing anything. You might find out that a lot more things need to be fixed.

In general with all the recent high street closures you should be able to negotiate a good deal, especially if it's been empty for a while.g