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Can our business be closed down?

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  • Can our business be closed down?

    We run a small garage business which has been trading for 30 years, there are two other small businesses also motor trade related on the same site, one has been trading for 34 years, the other for 20 years, there is also a tenant who lives in the flat above the garages who has been there for 14 years.....NONE of us have ever had a tenancy agreement.
    The owner of the site and buildings is in the process of selling the whole site and we have heard the new owner wants to bulldoze the whole place and turn it into a car sales site.
    Here's the question, can the new owner just come in and tell all of us to leave? what rights do we have??
    I need concrete answers please and not guess work as there are 7 jobs at risk and someones home, I have googled this but cannot find much to go on
    Thank you in advance
    Tags: None

  • #2
    Certainly the new landlord can't just turn up and turf you out.

    As there is no written commercial lease there will be certain rights implied by statute (*The Landlord and Tenant Act 1954" (LTA)) so long as rent has been paid.
    If the landlord should obtain possession the LTA provides the tenant be compensated
    Compensation as calculated by applying a multiplier to the rateable value. Basically tenancy in excess of 14 years means double the rateable value.

    It is complicated (!!) so I would suggest you find a solicitor versed in commercial lettings.
    Perhaps just an initial consultation to get some pointers?

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