Lease (shop + flat)- 16 yrs. unexpired- term extension?

[malikajk]

I just seen a shop and 2 bedroom flat above. lease is 16 years remaining. asking price is very reasonable but i am in doubt will i be able to get an extension.early reply will be appreciated. the land lord is liverpool council

[Poppy]

What exactly are you thinking of buying?
- The freehold for the whole property?
- The shop lease?
- The flat lease?
- Both leases?

What are you thinking requires an extension to its term?
- The shop lease?
- The flat lease?

Your query is not clear.

[malikajk]

I want to buy lashold extension or freehold for that shop and flat both.
There is a one lease for both shop and flat remaining 16 years left from original period of 99 yrs.

Thanks


What exactly are you thinking of buying?
- The freehold for the whole property?
- The shop lease?
- The flat lease?
- Both leases?

What are you thinking requires an extension to its term?
- The shop lease?
- The flat lease?

Your query is not clear.

[Poppy]

- The existing lessee can extend the lease and you pay for it as part of the buying process.

- Alternatively, you can negotiate the price for an extension with the freeholder at the time of purchase.

Recommend that you visit the Leasehold Advisory Service (http://www.lease-advice.org) website.

[SteveP]

You need to speak to a surveyor.

Firstly the lease is likely to be a commercial lease. You need somebody to advise you properly about the obligations you would be taking on. You are unlikely to have any right to purchase the property and depending upon the terms of the lease you may not have a right to extend it.