Leaseback Exit

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Leaseback Exit

Hi,

I am hoping someone will be able to give me some guidance here :I purchesed I leasback back in 2008. CELA were the management company at the time...they went bust after 2 years. A small number of owners came together and formed a syndicate and employ  another management company. The management company appears to have changed 3 or 4 times  iover the last couple of years ....eg Sygestim then to Le Connetable and now Foncia. Historically my gross return was 3 payments  of €800  p.a. with management fees of €400. This was roughly consistent with the 1st 2 management companies. It now looks like under the 3rd company my payments  will still be 3 X €800 but my outgoings look like they are going to increase to €1,200 as the fees are now quarterly and are €300 per quarter . To get to my point ......I want out  at this stage as I am not prepared to suffer this any longer. I have read a number of threads on the forum  and it looks like I will have to pay c. 5 years TVA (which I am OK with). My question is  where there is an arrangement whereby there is a syndicate and a subcontracted  management company,  is there likely to be a exit penalty....which was something I had not realised was another 'little treat ' as a concequence of owning a leaseback. I dont want to poke a sleeping dog at this point  by contacting Foncia directly. Thanks  Brian .

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