Peter Woolf, a businessman man from Southend has spent in the region of £50,000 and has been battling to obtain the leases for two seafront commercial properties since 2005.
The six year battle came to an end in June, when Mr Woolf finally took over the leases of the commercial properties which are located in a prime location just beneath Pier Hill in Southend. The contracts were dragged out due to problems with dampness in both of the shops.
Since signing the agreement however, Mr Woolf has now backed out of his plans to open an ice cream parlour and restaurant on the two commercial spaces. Ever since Mr Woolf had an operation on his shoulder, doctors have advised him against pursuing his dream to open the commercial plans. Mr Woolf, spoke of his upset about the decision, “It has gone on for six-and-a-half years for me with the site, and now I have lost the will to live with it.”
Good news though for Mr Woolf though, as he will not have to pay any rent to the council until 2015, and he can also sub-let the commercial units out. These terms were speculated on the original agreement that was drawn up in 2005 and so they still stand.
The two commercial properties are currently on the market and could earn Mr Wolfe roughly £21,000 per annum with rent, which would help cover some of the £50,000 he lost due to legal and architects fees.
However, time is not on Mr Woolf’s side as part of the agreement speculates that the commercial properties must be open by April 2012, as Mr Wolfe stated, “If they aren’t open I lose one of the rent-free periods. Someone has got to do the work but they could get them open by then, no problem.”
