Our commercial property team has a wealth of expertise in the full range of business leases and commercial lease transactions, from;
Things to consider:
Commercial property sales and purchase.
Commercial property can be freehold or leasehold.
What is a freehold?
The owner of a freehold usually owns the property: the land, and buildings. It is the outright ownership of land or property for an unlimited period.
What is a leasehold?
A leasehold is contractually time limited to the length of a lease. The ‘lease’ is a contractual document which sets out the relationship between the property owner (the Landlord) and the occupier (the Tenant).
The ‘term’ is the length of the lease.
How do I acquire a leasehold property?
You may be granted a new lease of a property – this can be done through the owner of the property or through a sub-lease through the current tenant.
Commercial property in the United Kingdom can be held via a limited liability company, partnership, limited liability partnership and unit trusts.
Tax implications must be considered when investing in any property.
Funding needs to be arranged and in place before contracts are exchanged. Deposits are paid on freehold property usually between 5-10% of the purchase price and payable on exchange of contracts, with the remainder payable on completion. Deposits are not usually paid on exchange of contracts of a new lease.
The complexity and structure of a property transaction dictate the timeframe for completion – no two transactions are the same. It is usually the seller or landlord that sets the timeframe.
Please call us to arrange a meeting or contact us online and we will arrange to call at a time convenient for you.