Im curently looking to rent out a new small shop for my business they are wanting me to sign up for a three year lease which seems the norm. What is worrying me though is if my new venture should fail i will be stuck tied into this lease.

My question is that should my business fail will i still be responsible for paying the lease for the rest of the agreed term?

Would i better off setting up as a limited company to avoid this pitfall if things turn worse in this economic climate and my business fails.

Thankyou

Commercial Lease – Basic Features

List Price: $2,000 NNN Sq Ft: 1,782
Status: For Lease
Gross taxes: $2,735

Dear Lawyers:
I have a question regarding my commercial property. I am currently renting out a commercial property, which has 2 more years left on the lease. I was approached by a business man who wanted to buy the property from the landlord, I asked the landlord if he was willing to sell the property for the business man and he said yes. Now my question is if he was to buy the premises from the landlord, what would it mean for me? (Would it mean that I would have a new landlord, would I have to be thrown out? would I get any sort of payment ? ) So please explain to me what would happen in these cases??

Thanks in advance.
Property is located in central london.

I have someone who wants me to build a commercial building for lease on my property. What steps are involved in getting plans, costs and permitting to begin the precess so I can provide a cost to the customer?