Commercial property nightmare

lisasimps

I'm in a commercial property two years. Really cheap rent. Been asking for lease for two years. Next week, next week and so on, but we didn't push it as rent was great price.

Agreement was we pay landlord rent and rates.

1. Landlord wasn't passing on rates so now we are liable for back dated rates for past 18 months . We're paying this and have stopped paying rent.


2. Six months ago a receiver showed up for the building, wasn't aware that we were renting.
He disappeared again the following week. Landlord assured us he had paid off the debt so the receiver was dealt with, and our two emails to the receiver went unanswered so we (foolishly) believed that it was dealt with.

Now receiver is back on scene and has given us 6 weeks to vacate the property. Impossible.
We've invested about €40K into building as we had been promised a long lease and planned on eventually purchasing.

I've been to a solicitor and am going to see him again Wednesday but I'm wondering does anyone know of any loop holes when there is no written lease ?
Any advice on how we should play this? Will the receiver be able to kick us out? If it goes to court will the judge have sympathy?

SEPT 23 1989

Could you not try and do a deal with his bank?

lisasimps

SEPT 23 1989 wrote: »

Could you not try and do a deal with his bank?

That's a good idea, I'll run it by solicitor.
As it stands the solicitor is asking receiver who he's acting on behalf of but they haven't disclosed.

I just had a mortgage application rejected but if we're approaching his bank directly it might be a better price

SEPT 23 1989

Banks want rid of stuff like this

Is it AIB by any chance?

lisasimps

I actually think its a lender called Finance Ireland (though, I have quickly learned to believe NOTHING )

SEPT 23 1989

Get your solicitor to make a very low offer if you can get finance

Best of luck

MarkAnthony

Why, oh why would you invest in a building without a lease, especially when you're on notice a due to the surrounding facts that something is going on.

Get a solicitor involved as soon as possible and don't go with the cheapest one you can find, get someone who can help you.

lisasimps

im not sure if you read the post? I already have a solicitor was just looking for other helpful comments.
I don't understand your first sentence.

MarkAnthony

lisasimps wrote: »

im not sure if you read the post? I already have a solicitor was just looking for other helpful comments.
I don't understand your first sentence.

They can indeed kick you out of the property, even if a Judge is sympathetic I can't see under what theory they'd be able to keep you in for very long.

As others have suggested try and purchase the property but prepare for the worst. The receiver will know they have you over a barrell here so you'll need to keep any offers realistic.

nuac

/Mod//

Sorry for your difficulties but we cannot give legal advice here

Discuss all options with your solicitor

Best of luck with this but am closing this thread