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Commercial Real Estate

Buying & selling

 

If you are acquiring or disposing of commercial real estate whether for investment or otherwise then we can help guide you smoothly through the process from start to finish.

We also have experience of auction sales and purchases, contracts conditional on planning and more complex transactions subject to options, overage or clawback. 

“Very professional, knowledgeable and accessible lawyers.” 

Chambers and Partners

FAQs – Buying and Selling

Due diligence is necessary to ensure you know enough about the property to be able to make an informed decision on whether the transaction is an appropriate investment for your business. You do the following before entering into the transaction:

  • check title documents, leases and contracts currently related to the property
  • carry out inspections of the site for any defects or maintenance issues
  • check financing options available to you
  • commission a surveyors’ and valuers’ reports to determine the value and condition of the property

Heads of terms set out the main terms agreed between the parties. They are used towards the beginning of the transaction to indicate an agreement in principle between the parties, and outline the timescales and each parties’ obligations in the process.

However, the parties are not legally obliged to enter into a contract on those terms or at all.

Following completion, you will need to pay any Stamp Duty Land Tax owed on the transaction, if any, and register it with the Land Registry, if capable of registration, within a specified period in most instances.

As the owner of a freehold interest, you are the owner of the land and the buildings and that ownership is not limited by time. A leasehold interest is not so simple. You hold an interest that is limited to the length of the lease.

The landlord retains ultimate ownership of the property, and the lease sets out the details of the relationship between the tenant and the landlord. Many property transactions are conducted on this basis.

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Read, listen and watch our latest insights

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  • 20 September 2023
  • Commercial Real Estate

Is your property mixed use? Commercial buyers beware of higher residential SDLT

This article discusses a recent case in which a property buyer calculated the Stamp Duty Land Tax due on the purchase at a lower rate, due to the mixed-use purpose of the property.

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  • 08 August 2023
  • Commercial Real Estate

Non-binding Head of Terms

The Court of Appeal Case of Pretoria Energy Company (Chittering) Ltd v Blankney Estates Ltd found that a lease clause within a Heads of Terms document was not binding.

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  • 11 July 2023
  • Commercial Real Estate

What licences do you need to open a restaurant?

Opening and operating a restaurant can be an exciting venture, but it also involves navigating various legal requirements. One crucial aspect of operating a restaurant is obtaining the necessary licences and permits.

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  • 12 June 2023
  • Commercial Real Estate

Conditionality in Agreements for Lease

It is not always possible or desirable for an agreement for lease to be unconditional.  Often, there is a need for an agreement for lease where the ultimate grant of the lease is conditional upon certain conditions being satisfied. 

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  • 10 May 2023
  • Commercial Real Estate

Good news for landowners – deposit statement introduced to protect against town green registration

For many years it has been possible under Section 31(6) of the Highways Act 1980 to deposit a statement and map with the local highway authority setting out any public rights of way which are registered as crossing a piece of land.

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  • 28 March 2023
  • Commercial Real Estate

Can I have access to a neighbour’s land to carry out works to my property?

We are often asked by landowner clients whether there is any legal right to go on to a neighbour’s land to carry out repair and maintenance works where it is not possible to carry out such works from the landowner’s own property and there is no legal right in place allowing access to the neighbour’s land.

We have always been impressed with the speed and reactivity displayed by the Clarkslegal Commercial Property team and their ability to make complex situations seem more straightforward.” 

Crown Europe

“It has been an immense pleasure to work closely with this firm that takes great care of its clients. The professionals are of the highest calibre and diligence.” 

Orkhan Eyyubov, Founding Director – New Canada Capital