And this is where commercial rent arbitration kicks in.
It’ll be hard, but not impossible to put the rent up or refuse new terms.
You can’t just kick à tenant out if they’ve paid rent on time on a long term lease. Even when it expires.
Ok.
At the end of 10 years the landlord asked for double.
Ave house price 2012 Jan = £165k
Ave house price 2022 Jan = £274k
(Source:Statista)
Commercial property increased more I believe.
Rents rise in line.
Other factors.
I’m not sure I’m getting your point?
He’s preferred bidder because - like buying a house - he’s bid the right money, shown his bank statement and it’s sold subject to contract. If he fails….
The Council needs to approve transfer of lease. He’s paved the way with a sweetener.