You are a tenant and remain to be a tenant till date. You have your tenancy rights protected by law, i.e., you cannot be evicted by your landlord without due process of law.
Actually your landlord is ding you a favor by offering to sell the property to you though the rates may be exorbitant which can be negotiated. In fact he need not take your consent to sell the property to a third person without having you vacated if the buyer is ready to buy the property with the tenants in it.
You cannot claim the rights of buying that too at the rate fixed by you just because you were a tenant for all these years. The electricity connection and water supply connection on the name of the tenant shall not confer the title of the property to the tenant, moreover this being a very old building over 32 years or so, the landlord may claim it to in dilapidated condition need to be demolished and require the property for his own use thereafter, All these grounds will be sufficient for him to reclaim the property terminating the tenancy through a court of law by filing a eviction suit which may hamper your routine business due to litigation.
Therefore it is wise to negotiate and buy the property at a rate mutually agreed upon by both to solve the issues amicably avoiding the litigation and the costs involved therein which may include loss of money, time and energy. Legally there is no provision that the landlord has to sell the property only to the tenant just because they were there for a very long period.
