Commercial Property being sold by Landlord

CED60

We have been renting a property for 20 years, for the first 7 we had a Heads of Agreement Lease and then when that was due for renewal in 2011, we did not sign a new lease and continued to pay rent on a monthly basis since then..  Fast forward to 2023, the landlord has passed away and the beneficiary of his will is looking to sell the property with vacant possession - which we found out when some Estate Agents turned up to value it and take pictures.
I wondered if anyone knew what our rights would be , would be happy(ish) to vacate the property , but obviously there would be significant costs involved in moving.

Many thanks in advance.

daveyjp

In broad terms you should have the protection of the Landlord and Tenant Act 1954, Part II.

There is a set down process for terminating a lease and levels of compensation which have to be paid.

https://www.simplybusiness.co.uk/knowledge/articles/2022/02/landlord-and-tenant-act-1954/

Take advice from either a Landlord and Tenant surveyor or specialist solicitor.

gingerdad

daveyjp said:

In broad terms you should have the protection of the Landlord and Tenant Act 1954, Part II.

There is a set down process for terminating a lease and levels of compensation which have to be paid.

https://www.simplybusiness.co.uk/knowledge/articles/2022/02/landlord-and-tenant-act-1954/

Take advice from either a Landlord and Tenant surveyor or specialist solicitor.

hoping the original lease hadn't opted out of it - definitely take legal advice 

as an aside would it not be worth buying it?