Lease assignment for sale

Does anyone know what this means ?

Its in relation to commercial retail shops.

Its mean an existing lease on the premises that will be assigned as opposed to a new lease created

For example the lease maybe for 25 years with 15 years expired therefore the new lessee will take over the 15 years unexpired

Cheers.

So who is selling the remainder of the lease. I assume its the previous person who had the lease. If so , is this the case because of some kind of penalty clause if they just quit the lease.

When a leasehold interest is sold it probabaly reflects one or both of the following:
1) rent currently payable is below market rent - the premium payable would then depend on the difference between the market rent and the actual rent and the number of years until the next rent review.
2) goodwill generated by the existing business - this assumes that the purchaser will be carrying on the same business as the existing leaseholder.