process for getting a takeaway for rent?

[allain2]

Hey guys,
I am new at this forum, i need some help i am looking to get A3 licensed takeaway, but need some information on how to do the process.
if for example i get a takeaway/restaurant which has remaining lease for 10 year for example, and later i want to leave the takeaway, then it will be easy to just contact to landlord and give a month notice, something like that?
or i have to keep the takeaway untill the lease ends?

Any replies would be appreciated?
Regards

 

[obscure]

The lease lasts for 10 years so no, you can't just give 30 days notice. You are liable to pay the rent for 10 years.

Some leases do have what is called a "break clause", which allows you to end the contract at certain specified points (3 years, 5 years etc) but you can only exercise these as detailed in the lease and on the dates detailed in the lease.... you can't just give 30 notice whenever you want.

Given that you don't understand even the most basic details of how a lease works you must, must, MUST get a commercial lawyer of your own to advise you on the terms of the lease. There are lots of nasty (and very expensive) clauses that landlords can include in a lease, such as making you pay for any repair, extra management/maintenance fees and even a "personal guarantee" that makes you personally liable for the rent if your company fails.

The landlord is not on your side. The landlord's lawyer is not on your side. Nothing they say is for your benefit, it is all for the landlords benefit. You must have a lawyer of your own to advise you.

Once you sign the lease you are bound for the term of the lease. There is "cooling off period", you can't claim that "you didn't understand the lease" or that "the landlord didn't explain it". You are responsible. Take proper legal advise.

 

[Mark T Jones]

+1 to what @obscure says.

This is a fairly complex legal contract and should be considered without reference to a lawyer who is experienced in such contracts

 

[Chris Ashdown]

Your cheapest solution is to go to W H Smith and buy a couple of starting in business books, which will give you a fair amount of the basic information you require

 

[Mr D]

Agreed, need a solicitor to protect yourself - imagine a 10 year rent you become personally liable for with costs of repairs too, if after a few months you have to shut down your business because it's not making enough.

In business the contract specifies terms. You do not get the help consumers get, what you sign is what you agree to.
Even if totally unfair or dead expensive.

Some people try doing things on the cheap, including not using a solicitor to advise on the lease before signing. Generally regretting it later. More than once have come across people regretting it to the tune of 50 grand plus.



Also you need to figure out what will get people using your takeaway.
Price? Always someone else looking to do the same and undercut you or regain lost customers you have taken by cutting their price lower. You cannot win a price war.

 

[ComPropSolicitor]

You need a solicitor. The extent of your liability is the Rent (per month) x 12 (months) x 10 (years). if your rent is £2,000.00 a month for example your total liability is circa £240,000.00 but this figure is just the rent and does not include the cost of fit-outs and repairs, insurance etc. There are things you can do - negotiate break clauses etc (but, ultimately, there is going to be some sort of on-going liability on you) that will not simply end on 30 days notice. If you have any further queries I can try to assist.

 

[obscure]

Obviously what I meant to say in my post above is that ....

There is NO "cooling off period", you can't claim that "you didn't understand the lease" or that "the landlord didn't explain it". You are responsible. Take proper legal advise.