How can I sell a lease?

[Sarah-Jean]

I am not looking for definite yet but I have a lease on a property for a salon and I'm not sure I want/need it anymore... I was wondering firstly if it's possible to sell such things on, and secondly how I go about doing that?

Does anyone know?

 

[Extrovert]

I also have a leased premises. Yes you can sell on, if u contact an estate agent they will advise you.

 

[Layla-Louise]

im in a similar situation with wanting to sell a lease how long is yours for?

 

[Lola_Spa]

Yes you can 100% for definate sell a lease. It has to be sold for a value, but this can be as little as 1p. There will be legal costs involved though, and the new tenant may need credit checks ect... Depending on how much detail the landlord requires. Your best bet is to advertise yourself as if you sell the lease through an agents then the costs could be quite high in comparison to the small
Amount you would get for the lease. HTH x

 

[Layrex9]

Prior to recently purchasing the building that my new salon is in, I bought the lease for the commercial element of the property. (I didn't want a building that I couldn't use for my business for 9 years!)

I spoke to a friend who is a local estate agent prior to making an offer for the lease. I was advised that the cost of buying the lease ('key money') would be in the region of 6 to 12 months multiplied by the monthly rent. 6 months if trading is not too great (recession) and 12 months if business is good (boom times). As we are in a bit of a recession I managed to get the lease for 6 times the monthly rental figure.

Do however check in your locality, as things could be different in your region.

 

[Sarah-Jean]

To be honest, I actually don't really want to sell it... I just want to offload it. I have been hit by some major money issues and now can no longer afford the fit out, the rent or the rates on this unit... I'm not interested in doing anything other than offloading, but am worried that if I approach my landlord and say I need to back out that he will hit me with a large bill...

 

[Josie*]

Hi
I have just gone through this. We decided to down size our salon after having children and for most of the reasons you read about on here I no longer wanted employees. I didn't want to sell because I wanted my clients and nobody was interested in just the lease. So I approached the landlord who was understanding. It cost us a fortune! We had to find a new tenant at our expense as we were coming out early. So with legal fees agent fees and then delays with solicitors it was pretty costly. Just make sure you take time to research the costs. I didn't and it shocked me.
Still glad I did, I have a small but perfectly formed salon and no hassle!
Good luck x