The buying and selling of commercial properties is in many respects fundamentally different to the sale and purchase of residential properties.
Apart from the technical aspects of the transaction itself it is important to tailor the way in which a business holds property with the nature of the business itself. The frequency of rent reviews and the manner in which rent can be adjusted is always important.
In a new venture it is vital to strike the right balance between the respective obligations of the Landlord and Tenant on repair and decoration and a new Tenant should consider a break clause which will permit the business to leave the premises if their venture is less successful than anticipated or, indeed, where it is more successful and bigger premises are necessary.
VAT is another extremely important consideration impacting as it may upon the real cost of rent for a small business or for those businesses which do not need to be VAT registered.
Another important issue is the range of services provided by a Landlord and both the cost and apportionment of costs amongst Tenants. All in all, the conveyancing of commercial property presents problems demanding experience and skill in this field of work.
If you are a developer we can assist with site acquisition, planning matters, banking & funding, title preparation, management companies and open space management advice.