Thu Jun 21, 2018 9:49 pm
#1619566
Indeed - you have to start from where you currently are of course.
I'm guessing the difficult issue is this hypothetical hangar, and that the rest is just grass. The question (hypothetically) is what happens when the lease expires, because the landlord now wants a termination by notice clause.
Forget law for the moment and think what the possibilities are:
1. There is no agreement about the hangar, so if given notice you could take down/demolish it and dispose of the materials for whatever you could get.
2. If you did that there'd be a concrete pad left. Maybe the landlord could sue for the cost of removal, but by then yours would be a shell company with no assets and not worth suing. Anyway, concrete pads can be useful.
3. A nice hangar could be useful for the landlord's own purposes, even as a cowshed.
All this suggests that the win/win deal is for the landlord to pay something for the hangar on termination, somewhere between what it's worth to you under scenario 1, and what it's worth to him under scenario 3.
The problem is valuing this now, because the lease might run another 5 years or another 50.
My solution would be a clause which says:
a. When giving notice the landlord must also offer to buy the hangar at whatever he thinks it is worth (no minimum, could be 1p).
b. If you don't accept the offer you have the right to take down and dispose of the hangar.
c. The concrete pad stays.
If this happens, it should end up with you both agreeing a figure in the area I indicated earlier. Assuming you haven't fallen out for some other reason, in which case all bets are off!
Any help?