We have seen a convenience store business for sale and their 15y lease expires end of the year.
They are asking for 50k for goodwill/fitting plus hire staff and stock at cost to renew and sub lease to us. They have sent last 2yrs a/c which only shows 10k and 8k annual profit. We don't intend to run convenience store and want to open takeaway. So no real benefit of goodwill and fittings.
Now I need to know how to best negotiate with sellers agents. They keep on asking to send offers and not really helping understand.
Can we just bypass and go direct to freeholders?
Or do we have to pay to get the existing lease. If so how much it's worth?
Really need help on negotiating.
Thanks in advance.