Extension of lease

[Candyred]

My friend and I have the chance of buying a cafe but there is only 6 years left on the lease. How do you go on about getting this extended? How much should it cost? Thanks

[Richard1966]

How longs a piece of string???

Seriously, the freeholder can pretty much think of a figure and thats how much it costs + solicitors fees just to put the cherry on top.

[EDDIE51]

We can not possibly even guess how much a new lease would cost without information about the property size, takings ,position etc. Need information on where it is and price / cost of similar places for any sencible advice.
You need to do a lot of background research before you make a decision.
It is also possible the lease holder will not be prepared to renew the lease at all he/she may have other plans for it.

[grffindoor2011]

I wouldn't bother. Had a friend who bought a shop with a short term lease (5 years). Once it was up, the owner told her to either go or pay an increase of 250% on the rent. Despite my telling her to look for somewhere else she stuck with it for 19 months then unsurprisingly went out of business.

Look for somewhere with a longer lease or you may lose all you have worked for.