Our Commercial Property services include:
A commercial property may be required for various purposes, whether as premises from where to run your business, as an investment property to let to an occupying business, or as residential flats and apartments whereby you receive the rental income.
We can assist you whether you are a buyer or seller and, in the case of a buyer, we can also assist you if you need to obtain finance through a mortgage lender for your purchase.
How Our Commercial Property Solicitors Can Help
We understand that your commercial property is typically the most valuable asset on your balance sheet. Our solicitors will offer their wealth of experience, industry knowledge and specialist advice to ensure that you fully understand your obligations and can fulfil them to the best of your ability, leading to an efficient and seamless transaction.
Our service offering includes the following case types. If you require assistance with a matter not listed below, please contact our team and we will do all we can to support you.
- Asset Sales and Purchases
- Auction Sales and Purchases
- Commercial Licenses
- Financing, Refinancing and Mortgages
- Option Agreements
- Planning Objections and Appeals
- Share Sales and Purchases
Commercial Property Solicitors Blackheath
Commercial property law often contains complex legal procedures that require the support and guidance of an experienced professional to ensure that they are followed correctly.
As you might expect from a well-established and community-focused law firm, we have dealt with all commercial property transactions, including acting for developers, funders and end users for freehold and leasehold property. Our fully qualified team gives you peace of mind that regardless of the complexity of your matter, we can help.
How can we help you?
What will be involved in buying or selling my commercial property?
The legal work is split into various stages when buying or selling a commercial property. These include:
1. Investigating the Title
To check that the seller has the right to sell the property and to highlight any other interests that may affect the property.
2. Obtaining Searches of the Property
To reveal whether any potential legal risks affect the property and your use of the property.
3. Raising Enquiries for Buyers or Responding to Enquiries for Sellers
The seller must disclose detailed information about the property. If acting on a purchase, we will raise questions of the seller about the property and pinpoint any legal issues that will likely affect your use of the property. If acting on a sale, we will deal with any questions the buyer’s solicitor raises.
4. Exchange of Contracts
This is when you become legally bound to buy or sell the property.
5. Completion
The transaction is finalised.
6. Registration
The transaction is registered at HM Land Registry.
Depending on the nature of your case, the services required and the complexity of the transaction, the cost will vary. We aim to be transparent with our fees throughout the process, ensuring that when we provide an estimate for you, we try to provide as much information as possible, meaning you have a clear understanding of what the transaction will cost from the outset.
For a free and bespoke Commercial Property quote, please contact us:
+44 (0)20 8852 4433
enquiries@beverleymorris.co.uk
If calling or emailing, please provide us with the following information:
Buying A Property:
- Property address
- Purchase price
- Type of property (e.g. shop, office)
- Amount of any mortgage or other borrowing
- Your intended use of the property (e.g. café, offices)
- Whether you are aware of any existing commercial or residential leases being in place at the property
Selling A Property:
- Property address
- Sale price
- Where you have a mortgage, the approximate amount outstanding
- The current use of the property and the buyer’s intended use
- Whether there are any existing commercial or residential leases in place at the property
There are a few potential circumstances by which additional costs may be incurred. Some of these include:
- If the property is being sold via an agent, associated fees will need to be considered.
- In cases where a property is being bought, we always advise getting a survey carried out to highlight structural or environmental issues.
- Planning permission may be required if you intend to carry out building works on the property or if you propose to change the use of the property, then costs to the local authority may be payable.
- Costs of any search fees must be covered.
- Stamp Duty Land Tax may be payable in some cases.
Stamp Duty Land Tax (SDLT) is payable to the Government if you buy a property or take a lease of land over a certain price in England, Wales and Northern Ireland. The amount you will need to pay depends on the price you pay for the property.
This link will help you to calculate the stamp duty payable. There are a number of factors involved in calculating stamp duty; please feel free to discuss this with us.
There are no set time frames by which your commercial property transaction will be completed, as no two cases are the same. We don’t want to raise false expectations by promising a precise time frame at the outset, as it’s impossible to predict any issues that may arise. That said, we aim to deal with your matter as efficiently as possible and will always bear in mind any particular time frame to which you may want to work.
We pride ourselves on our honesty and will always let you know if we think your goals may not be achievable.
Surveys
If you are borrowing from a lender, whilst the lender might provide you with a valuation report, this simply confirms to the lender that the property is worth lending against. It will not reveal any other issues that may affect your desire to purchase the property, such as structural problems. We strongly advise our clients to obtain a survey of a property before they purchase.
Planning
If you are purchasing a property but wish to use it for a different use than it is currently being used, or wish to make any changes to the property, you may need planning permission. We can advise you further about this, but you might need to engage the services of an architect or a planning firm. This could involve additional fees, including fees payable to the local planning authority.
