Lease Forfeiture in Luton
Case Study Luton
When a nationally renowned company became insolvent it caused lots of debt and property problems for landlords up and down England & Wales.
This is a common issue when one company runs into difficulties; it has serious consequences for their landlords and suppliers.
We were approached by a landlord who had a lease with this company. The lease was for a large part of his portfolio and he was not sure what to do.
The landlord knew he would not be getting any further rent and was unlikely to get much if any of his arrears.
He was not sure of the legal position regarding forfeiture of the lease of the property in Luton. He had been told that he was unlikely to get his properties back and no rent for around 9 months.
The landlord was put in touch with one of the specialist commercial property lawyers we deal with. The lawyer was able to determine in this instance that quick application into the court was required to get the property back.
The court application had an immediate affect on the Insolvency Practitioner in charge of the case. This allowed the landlord to forfeit the lease of the property in Luton, and gain re-possession of the property.
The landlord was able to have the properties relet quickly. This saved the landlord thousands in unpaid rent as otherwise he would have had a nine month wait to gain re-possession; nine months with no rental monies coming in.
Commercial Lease Forfeiture
If you need Commercial Lease Forfeiture in Luton then contact Enforcement Bailiffs.
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