September 6th, 2009 
Paul 
Hot on the heels of our reporting the 24 hour lease option story
http://ms-law.co.uk/blog/2009/08/16/lease-option-timescales/
we now possibly have the biggest lease option deal yet which is nearing completion.
The deal involves the acquisition of an entire block of flats, 9 in total. Our client is entering into a commercial lease of the entire block with the builder under which our client will pay an annual rent for the entire block. In return our client has the right to let the flats on AST’S, retain any rents in so doing and to purchase the Property at a set price in the future. If and when our client exercises the option to purchase the entire block they will then also be able to sell off the flats individually if they wish. This is a great lease option deal which shows how the lease option principle can be used and extended to fit any circumstances. I am sure there is also scope to enter into similar arrangements involving larger houses and properties, acquiring an option to purchase at a set price and gaining consent to convert into a HMO ! Great cash flow and adding real value to the property into the bargain.
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Thanks for sharing your experience Paul and opening our minds to all the “options”.
Great learning and most appreciated.
Kind regards
David
HI David
It’s a pleasure. Please do bear us in mind for your property related legal needs. We act in all types of transaction for investors- not just options and provide an excellent service tailored for investors.
Thanks
Hi Paul
Thanks for that snippet of info, just goes to show how flexible Lease Options are.
Rgards
Mike
Very nicely done,thanks for the advice on the phone a couple of months ago regarding lease option on a inherited property.
Also just a thought,
does Shimon accept engagements for stand up comedy!!
Rog
It was a pleasure. Hope all is well
Am I right in thinking that if the person who has taken the lease option cannot find tenants for these flats, he is liable for the rental payments for the term of the lease?
Does this show the downside that this could be quite costly if tenants are not found?
Thanks
Rishi
HI Rishi
It’s a downside- but i don’t think it is a risk that doesn’t come with any part of investing in property – if you buy in the traditional way and can’t let it, it is not desireable.
hope this helps, keep commenting! I value you getting involved so please please do continue so we can share with everyone.
thanks
thanks