Commercial property is a major investment for your business, and involves significant responsibilities and legal liabilities. Whether you are looking to buy, rent or lease out business premises understanding the key legal issues involved is vital. In this section, we highlight some of the areas where our expert commercial property lawyers can help.
Buying & Selling
Finding the right property is just the beginning. Our commercial property experts can handle the legal aspects to ensure that the process runs smoothly and efficiently. If you are looking to buy or sell commercial property, talk to us.
Funding a property purchase can be a challenge but it is still possible to raise finance through bank loans. Our commercial property department can advise on the mortgage offers received and the security that the bank require. We also advise those making the loans.
Negotiating Terms & Contracts
When buying, selling, leasing or renting commercial property you need to be sure that you are getting the best possible terms for your business. Our commercial property specialists can identify the pitfalls to be avoided and can negotiate contract terms on your behalf.
Freehold & Leasehold
Consider whether owning the property outright (freehold) or buying the right to use it for a certain time (leasehold) is the better option for you. As an owner or landlord you may by thinking about ways of making the most of your property either through selling the property outright or retaining ownership and leasing it to a tenant. Our commercial property specialists can help you make the right decisions.
A break clause gives the tenant the right to end the tenancy part way through the agreed term. For tenants it offers flexibility in case their business needs change in the future but for landlords it can lead to lost rental income and empty premises. Any break clause will need to be carefully negotiated and drafted to balance these competing interests. Contact our commercial property department for more advice.
Most business premises are either leased or rented on a short-term licence. Negotiating the right solution for your business is crucial; getting it wrong can expose you to significant costs in the future. Whether you are a landlord or a tenant, our commercial property specialists can handle negotiations on your behalf and draft either standard or bespoke terms for your business.
Exiting A Lease
You may find that your property requirements change before you reach the end of your lease. Getting out of your contract can be difficult, but our commercial property specialists can help you to understand the options available, identify the best course of action to take and complete the necessary legal requirements.
Renewing, Forfeiting, Sub-Letting & Assigning Leases
We advise both landlords and tenants on the management issues which arise during a least term. Contact a member of our commercial property team for further advice.
Rent Reviews & Rent Recovery
Rent reviews give landlords the opportunity to increase the rent payable. As a tenant, you should expect to see a clause in your lease providing for a rent review every three years or five years. As a landlord, you will want to make sure that the clause allows you to carry out the review when you need to, and also that you can apply a new rent and quickly recover unpaid rent if necessary. We advise both tenants and landlords on getting a fair deal. Our commercial property lawyers can help you to negotiate terms or work with all parties to resolve rent review disputes if these occur.
Stamp Duty Land Tax (SDLT)
As with a house purchase, SDLT applies when you buy or rent commercial property. Speak to us about the rules and the liabilities.
Wills & Powers Of Attorney
Buying or selling commercial property can mean significant changes your personal circumstances and so you should think about making or reviewing your Will. Our Wills, Trusts and Wealth Management experts can give advice on distributing your assets in a tax efficient way.
You may also want to consider a Lasting Power of Attorney, appointing someone of your choosing to make decisions about your property and financial affairs on your behalf should you become incapacitated.
Landlord & Tenant Disputes
Issues between landlords and tenants are not uncommon and can be stressful and frustrating. Disagreements may arise over the use of the property, or whose responsibility it is to remedy any disrepair or defects. If you are in dispute with your tenant or landlord, our business dispute specialists will work with you to resolve your issue as quickly and cost effectively as possible.