We and friends have lodges on a twenty year licence, taken out 5 years ago. Occupancy 11 months.
Our neighbours wish to sell their lodge with the remaining 15 years licence and prospective buyers are being put off buying as the site operator has refused to extend their Licence.
The Lodges are still very new inside and out after just 5 years, and valued at around £100k.
Can the site operator refuse to extend their licence?? Any advice very welcome; Thanks.
Posted: 17 May 2010 9:44 AM Subject: RE: Holiday Lodge Licence period.
Just joined
Posts: 8
Hi there
I can't see why the park owner should extend the licence. He/she granted a 20 year licence, which was accepted by the purchaser at the time of sale, along no doubt with others.
It is no different to purchasing a leasehold apartment or house. You purchase a lease with a set period of time. If at some stage you decide to sell, you sell with the remainder of the lease.
There are other lodge parks throughout the UK who offer much longer licences, but generally the price will reflect that.
