Hi,
My family business will be in the same premises for 100 years in 2025. This will have been achieved through a succession of 35 year leases. We have renovated and remodeled the property many times over that period.
I have been told that if you have a 99 year lease then you are entitled to buy the property at 1/8th market value does this apply to 99 years of occupancy as above i.e made up of several 35 year leases?
could the case be made that we were for all intents and purposes entilted to a 99 year lease?
What is our position when it comes to buying out the landlord in 2025 after 100 years in occupancy?
My family business will be in the same premises for 100 years in 2025. This will have been achieved through a succession of 35 year leases. We have renovated and remodeled the property many times over that period.
I have been told that if you have a 99 year lease then you are entitled to buy the property at 1/8th market value does this apply to 99 years of occupancy as above i.e made up of several 35 year leases?
could the case be made that we were for all intents and purposes entilted to a 99 year lease?
What is our position when it comes to buying out the landlord in 2025 after 100 years in occupancy?