So I am working on a commercial lease. Advise resources or experience?
So my previous question about coffee shop
s has a follow up.
I'm about to enter a lease for the premises.
The lease includes all the plant and equipment for the coffee shop, with it all owned by the landlord. Rent is $7k per month, which is about 15% higher than a bare premises would be, but a bare premises would need planning approval and lots of work to get to a going concern.
She has mentioned she paid $30k for this gear some years ago from a failed tenant. The gear is old and worn out, over the term of my hoped for tenancy of several years much will need replacing, and I want to be able to source my own gear.
I'm planning on asking for an option to purchase the plant & equipment for $25k with a corresponding rent reduction to $6k.
My question, is have I missed some good ideas? What would you do? And are there any online resources for commercial lettings that might spark some more ideas?
Any other advice?