Our Commercial Property team is able to offer a comprehensive commercial property service. We recognise that business clients need cost effective and practical solutions to their property transactions and endeavour to make our charging structure plain and transparent.
Our areas of specialism include:
- Sales and Purchases of Business Premises
- Agricultural Land
- Buying and Selling of Registered and Unregistered Land
- Voluntary Registrations of Unregistered Land
- Overage Agreements
- Commercial Landlord & Tenant Lease matters
- Security of Tenure
- Property Development
- Options and Conditional Contracts
- Auction Property Conveyancing
- Community Asset Transfer
- Easement or Covenants
- Self Invested Personal Pension (SIPP)
- Small Self-Administered Scheme (SSAS)
- Property Finance
If you are looking to buy, sell or rent business premises, you will need specialist advice at the earliest opportunity.
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The Commercial Property Development team at Ridley & Hall are well-equipped to handle every aspect of a commercial development from land acquisition to planning, funding, construction and disposal. We combine attention to detail with swift advice working to client’s deadlines and within budget.
Developments can be construction projects on vacant land or renovations of existing property.
- New homes
- Office spaces
- Retail units
- Industrial parks and transform areas of towns and cities
- Medical facilities
Our Commercial Development Team advise on the following aspects of development:
- Overage agreements
- Site acquisition/site disposals
- Joint venture agreements
- Construction documents
- Re-development of existing sites
Sale & Purchase
Commercial property is a complex and changing area of the law. At Ridley & Hall we deliver a quality assured service, focusing on your specific business needs and we are committed to securing the best outcome for you, cost effectively.
Our Commercial Property team advises on all aspects of the sale and purchase, specialising in the following:-
- Sales/Purchases of registered/unregistered land or property
- New builds for professional practices
- Development land
- Sales/Purchases of farmland
- Overage agreements
- Options and conditional Contracts
- Sales/Purchases of licensed premises
If you are considering buying or selling at auction then our Commercial Property team have extensive experience of acting for clients buying and selling commercial properties at auction. Auction transactions are a quick way of buying/selling a property and require thorough preparation.
Researching The Property Using The Legal Pack Supplied
Prior to the auction date there is usually 3-4 weeks to research the property which will involve thorough investigation of the legal pack that is available from the seller’s solicitors or agents and will include:
- Special Conditions of Sale
- Title Deeds or Official Copy of Register
- Replies to Pre-Contract Enquiries
Practical Considerations For Buying A Property
Practical Considerations for Buying at a Commercial Property Auction:
- Carefully check the general and special conditions of the auction
- Check the searches
- Arrange an inspection or preferably a survey of the property prior to auction
- Check if VAT is payable on the purchase price of the Commercial Property
- Ensure 10% deposit is available in cleared funds to be paid at the auction
- Any further searches required?
- Any further enquiries to be raised?
- Funds should be available to complete
- Is the property subject to a Lease and are the terms of the Lease satisfactory to you?
- It is advisable that the legal pack is reviewed by a – Solicitor in advance of the auction date to alert you to any potential issues with the property.
- After the auction date, the balance of 90% of the purchase price will be payable on completion, usually within 28 days.
Selling A Commercial Property At Auction
The Commercial Property team can advise you if you are selling a commercial property at auction. We will prepare the legal pack and circulate to official prospective purchasers prior to the auction date.
Landlord & Tenant
The lease sets out the relationship between landlord and tenant, the rights and obligations of each, the rent and rent review provisions, repairs, decorations, insurance and lots of other details.
Leases are often long and complex documents sprinkled with technical language. Whether you are the landlord or the tenant we will try to make sure that everything is explained to you in plain English so that you fully understand your rights and obligations.
We are happy to take instructions from either landlord or tenant in relation to any property (though we cannot take instructions from both).
1. New Leases
Preparing a lease tailored to your instructions, negotiating any changes with the tenant’s advisors and completing the lease on your behalf.
We deal with individual properties or multiple units for landlords with portfolios of commercial property.
Checking and negotiating a written lease that is fair between your landlord and you, dealing with any stamp duty land tax payable and, where appropriate, registering the completed Lease with the Land Registry.
2. Lease Renewals
When a lease to a business tenant runs out, in most cases it simply continues on the old terms until either the landlord serves a notice to end it or the tenant serves a notice asking for a new lease.
These notices must comply with certain requirements and be in a specific form set down by law. In some cases the tenant has no right to a new lease.
We will check your current lease and advise you which applies to you and what procedure to follow.
In some cases either the landlord or the tenant can apply for an interim rent to be set whilst negotiations continue.
Serving any necessary notice to bring the old lease to an end; preparing and completing the new lease.
We can advise you if you have grounds to object to the tenant having a new lease.
If most of the terms remain the same with only the period of the lease and the rent changing this can often be effected by a short document.
Serving notice requesting a new lease, negotiating the terms and wording of the new lease, dealing with any Stamp Duty Land Tax return and, where appropriate, registering it with the Land Registry.
3. Lease Transfers
Existing leases can be transferred (or assigned), but usually you will need a licence (written consent) from the landlord. This allows the landlord to check on the incoming tenant, but the landlord cannot be unreasonable or delay granting consent.
Usually the landlord will ask for his legal costs to be paid by the tenant who requests the consent.
4. Rent Deposits & Guarantees
In some cases the landlord may be concerned that the tenant may not pay the rents on time or even at all. This may be because the business is a limited company, or is a new business, or cannot provide satisfactory references.
The landlord may ask for additional rent to be paid in advance (a rent deposit). This will be kept by the landlord as security on terms recorded in a Rent Deposit Deed.
In other cases the landlord may ask for a guarantee from another individual. Anyone asked to provide a guarantee should take separate advice about the possible consequences of giving a guarantee.
At Ridley & Hall we believe it is important for you to know from the outset what you are likely to have to pay for the work we do on your behalf.
Once we have all the details needed to estimate the amount of time we will need to spend dealing with the lease for you, we will confirm our costs to you in writing. Providing your instructions do not change significantly we will keep to the estimate. If circumstances do change, for example if additional documents such as rent deposit agreements need to be produced or checked, then we will advise you in writing of any change to the estimate.
We will also advise you in writing if you will have to pay Stamp Duty Land Tax on the lease (and if so how much).
Some leases should be registered at the Land Registry. We will advise you of any Land Registry fees that may be payable.
Please complete the enquiry form for an indication of our costs.