COMMERCIAL PROPERTY

Buying and Selling Commercial Property

When buying or selling a commercial property, it is essential that the best possible contractual terms are negotiated to enable opportunities to be seized and risks to be minimised. We will ensure that the whole process is handled seamlessly, from the meticulous drafting and careful negotiation of contracts (including conditional contracts and option agreements), through to the investigation of title to identify and eliminate any issues of concern.

Landlord and Tenant

Both landlords and tenants have distinct rights and responsibilities when it comes to commercial property.

As a landlord, you will need to ensure that leases are put in place which maximise the value of your interest and rental yields and minimise the risk of disputes and irrecoverable costs. As a commercial tenant, you will need to understand your rights, liabilities and obligations within your tenancy agreement and to minimise risk as much as possible.

Our Commercial Team provides general advice in relation to ongoing landlord and tenant relationships and disputes, including:

• lease obligations and liabilities
• drafting and negotiating leases
• agreements for lease
• surrenders
• variations
• rent deposit deeds
• licence documentation
• regulatory enforcement issues

Once leases have been put in place, we can assist landlords and tenants in relation to ongoing management issues such as applications for consent to assign, grant subleases and carry out alterations to premises.

With help from the firm’s dispute resolution team, we act for both commercial landlords and tenants in relation to formal lease renewals under the Landlord and Tenant Act 1954 and aim to ensure that lease renewals are dealt with as speedily and fairly as possible.

Related Services

Pension Schemes and Property Investment

When it comes to pension schemes, you may wish to think about structuring your pension arrangements through Self- Invested Personal Pension (“SIPP”) plans or Small Self-Administered Schemes (“SASS’s”).

Working with our extensive network of local independent financial advisers, accountants and commercial property professionals, we can help to assist clients and their pension product providers in acquiring commercial properties through their SIPP’s or SSAS’s and securing a rental income from their trading companies.

We also provide strategic advice to investment landlords wishing to receive a regular rental income from commercial tenants to help them maximise their yields, whilst minimising the exposure to risk, potential disputes and irrecoverable expenditure.

Property Development, Strategic Land and Options

Having a legal adviser with the commercial expertise and pragmatism to help construct a successful development deal is crucial.

We are experts in the negotiation of development agreements, construction contracts, consultant appointments, collateral warranties and pre-let agreements with end user tenants. We can also help with all related development finance requirements.

In addition, we can offer advice on more long term strategic development projects involving complex site assembly arrangements using option agreements and conditional contracts. We can also assist landowners wishing to secure an interest in the future profits of development sites using “overage” or other profit sharing arrangements.

Property Finance and Secured Lending

Lenders require different levels of security from developers, investors and contractors. We act for borrowers and private and institutional lenders where the borrower’s lending is to be protected by means of security over commercial property.

Our role is to work with you and your lender to investigate title to property as quickly and efficiently as possible, and to identify and deal with any particular issues which might be of concern to lenders in a practical way.

Our contacts with local banks and commercial property professionals, such as valuers and building surveyors, enable us to pull together all required expertise necessary to assist clients with their funding requirements.

We also have substantial experience in drafting and reviewing fixed and floating charges, facility letters and loan agreements as well as related documents such as deeds of priority and postponement. We can also assist with any related Land Registry and Companies House registration requirements.

Charity Property

There are very specific statutory compliance issues associated with charity property which require specialist guidance in order to avoid the pitfalls. There is also a particular need for charities to minimise cost and commercial risk, and to be able to demonstrate “best value” in their commercial property dealings.  Our objective is to help our charity clients achieve their charitable aims as cost-effectively as possible whilst tackling any practical legal issues which they may face in connection with their acquisition, disposal and management of commercial properties.