Two property purchases can vary significantly in their degree of complexity. Therefore please take this as a very generic guide as to the stages of a commercial property purchase and the procedures. Initial stages You will need to inform the Estate...
Commercial Property Solicitors in Ashby de la Zouch & Tamworth
Whether you’re purchasing your first business premises, renegotiating the lease on your existing commercial property, or managing your portfolio of commercial real estate, it’s vital you instruct expert lawyers with a wealth of experience.
Getting the details of a commercial property transaction right is essential as this ensures that the transaction goes ahead quickly, smoothly and cost-effectively, while protecting your commercial and financial interests.
Our highly experienced commercial property lawyers know how to avoid all of the common hold-ups and headaches, keeping your deal on track and allowing you to achieve your business objectives.
From negotiating a rent review or lease renewal to advising on dilapidation or service charge issues, our specialist commercial property lawyers will make the process as straightforward and stress-free as possible, allowing you to focus on making your business a success.
If you are planning on buying or selling commercial property, leasing business premises, buying a development site, or engaging in any other kind of commercial property transaction, please get in touch with our commercial property solicitors in Tamworth or Ashby de la Zouch today.
Our commercial property services in Tamworth & Ashby de la Zouch
We can support you with all types of commercial property transactions, including:
- Sale or purchase of commercial property
- Drafting and negotiating commercial leases
- Development and planning
- Finance and security
- Break clauses
- Commercial landlord and tenant issues
- Dilapidation claims
- Commercial property disputes
We regularly work with a wide range of businesses and entrepreneurs on commercial property such as:
- Shops and other retail space
- Pubs, restaurants, bars and cafes
- Buying and selling development sites
- Commercial property developments
Why you need a commercial conveyancing solicitor
There are various steps involved in buying, selling or leasing commercial property and it is essential to get them right, both to make sure the deal goes ahead smoothly and that you are not left with any nasty surprises after the deal is done.
An experienced commercial conveyancing lawyer can carry out a number of different checks and other essential tasks to ensure your interests are protected at all times. These include:
- Investigating the title of the property in question to make sure a person selling/leasing a property to you has the right to do so.
- Drafting and reviewing contracts of sale or commercial leases to ensure your interests are protected.
- Making sure any issues with the contract or lease are addressed and any necessary amendments made.
- Carrying out essential checks and searches to see if there will be any issues that would affect your occupation of a property e.g. if there are any major new developments planned nearby.
- Preparing Transfer Deeds and Mortgage Deeds where required, to ensure the financial side of the transaction is taken care of.
Commercial contracts of sale and commercial leases can often be very long, complicated and highly technical documents. The average person does not typically have the expertise to fully understand these documents and identify any potential problems without the assistance of a trained legal professional. This means that if you attempt to buy, sell or lease commercial property without the assistance of a solicitor there is a much higher chance of you making a costly mistake.
Why choose Fishers for your commercial property deal?
Our solicitors understand how important it is to consider the business implications of any commercial property deal and ensure that your financial and legal interests are protected at all time. We have the experience to make sure your deal goes ahead cost-effectively, while securing your long-term business interests.
We recognise that you and your business have unique requirements that are unlikely to be best served by a “one-size-fits-all” approach. Instead, we offer a tailored approach to handling your commercial property issues, taking the time to understand what you need to happen and what your concerns are. We then take you through your options in plain English, so you can have complete confidence that we are making the right legal choices for your business.
Fishers is a Lexcel-accredited law firm, which recognises the quality of our practice management and customer care and reflects the excellence of our legal service. We are regulated by the Solicitors Regulation Authority (SRA).
Frequently Asked Questions about commercial property law
Why do I need a solicitor to rent business premises?
Commercial leases are often highly complicated documents which can run over dozens of pages and contain a number of important details that the average person does not have the training or experience to understand.
It can be very easy to misunderstand your rights or obligations under a commercial lease, especially if the wording of a particular section is vague of unclear. For example, a lease might require you to pay “a proportion of the landlord’s costs for maintaining the building” without specifying what proportion that is, theoretically allowing the landlord to charge whatever they like. These are the kind of issues a good commercial property lawyer will pick up on and clarify, potentially saving you a lot of money.
Ultimately, while using a solicitor for your commercial lease may cost you up front, it is likely to end up saving you much more in the long run.
How do break clauses in commercial leases work?
Many commercial leases contain a “break clause” allowing either the tenant or the landlord to end the lease early under certain circumstances. There are normally various conditions included in a break clause, including specific dates on which the tenancy can be ended early and a requirement for the party breaking the lease early to compensate the other.
Break clauses can be a good idea, especially with longer leases, as they give you a way out of a lease if your priorities change e.g. a particular location you are leasing is unprofitable for your business, or you wish to sell a property that you are leasing and need the tenant to leave.
What is an “implied term” in a commercial lease?
Sometimes when there is a dispute over a commercial lease, one of the parties involved in the dispute may seek to rely on an “implied term” of the lease. This means something that they consider to be intended as part of the lease, even though it is not specifically written into the document.
The exact definition of what can be considered an implied term is complicated, but in very general terms it is something that a reasonable person, on reading the lease, would consider to be obviously intended by the parties signing it.
This kind of ambiguity can often lead to protracted and expensive disputes. This is why is it so essential to have any commercial lease, or other commercial property contract, carefully reviewed by an experienced solicitor, so they can ensure that any such areas of potential confusion are cleared up.
What’s the difference between a Tenancy Agreement and a Licence to Occupy?
A commercial Tenancy Agreement and a Licence to Occupy are both common ways for businesses to rent premises. Each has its own advantages and disadvantages and is it important to understand the difference, including the rights and responsibilities involved.
A Tenancy Agreement usually gives you the exclusive right to occupy a specific property or defined part of a property (e.g. a single office within an office block) for a set length of time. You will also normally have certain rights, such as to be granted a lease extension under certain conditions. A landlord may have to pay you compensation if they refuse to extend your lease and there will normally be limits on how much they can increase your rent by when renewing the lease.
A Licence to Occupy, however, is normally a much more limited agreement, giving the occupier the right to use a space, but not exclusively so. This means that they might be sharing with the owner or other individuals or businesses. A Licence to Occupy will normally be for 6 months or less as any agreement that runs for more than 6 months may be covered by the Landlord and Tenant Act 1954 allowing the occupier to claim a secure business tenancy.
Business tenancies are often favoured by larger, established business who need a significant amount of space to themselves, while the Licence to Occupy option is often popular with start-ups and sole traders who need relatively little space and do not want to be tied into a long, expensive tenancy.
Get in touch with our expert commercial conveyancing solicitors in Tamworth and Ashby de la Zouch
For further information regarding any of our commercial property law services, or to arrange an initial appointment, please contact your nearest Fishers office or complete our enquiry form and a member of our team will be in touch.