Buying a property for my business but can't get tenants out!

alc101

Hello,

I am currently preparing to buy a small commercial property to use for my business. I just found out that despite initially being told three months ago that the current tenants have a 6 month contract, they are in fact not due to leave until May 2020. This would be far too long to wait as I would liked to have been moved in and open for business from this September (2018).

I'm surprised that this property is for sale is prospective buyers can't even use it to run their own business from.

Is there any way to ensure that the property can be purchased without the tenants in it?!

Thank you so much for your help

00ec25

is this a commercial property occupied under a commercial lease?

if yes then offer to buy out the current tenants from the terms of their lease.

how come you have got so far without taking legal advise since you are dealing with stuff way beyond an internet forum

elsien

That would seem to depend on the specific terms of their contract. Do you know the precise wording? It all seems a bit he said/she said at the moment.

alc101

Yes it's a commercial property and the vape shop currently occupying have (I assume) a commercial lease. Not particularly far along yet. Just spoken to estate agents, looked around the property with the current tenant who said he had 6 months left but wanted to stay for longer. Was geairng up to make an offer but obviously that is on hold now until I can determine whether or not I can buy the property and then use it immediately for my own shop.

TBagpuss

It's actually very common for commercial properties to be sold with sitting tenants, however, the agents ought to know what the terms of the existing tenancy are and let you know, if you tell them you want to move in yourself, when the premises will be available.

A lot of commercial leases will be for relatively long periods - often 10 or 15 years, although there may be break clauses, often at 5 yearly intervals. It's possible of course that the landlord has let the premises on a shorter lease because they were planning to sell, but you need to find out before you go forward. Who told you the lease is not up until 2020?

alc101

Thanks for your reply.

The agent originally said the tenancy agreement ended this Summer but e-mailed today after speaking to the owner to confirm that the agreement actually runs until May 2020.

They've essentially said that the only way to purchase the property is with the sitting tenants in place and that I wouldn't be able to use it until May 2020.

This wouldn't be an option for me but it's a shame as the shop is in the perfect location and on for the perfect price.

Tom99

Ask for a copy of the lease, then speak to the tenant, they may welcome the chance to leave early, you may be lucky.