Commercial Conveyancing

Commercial conveyancing is transferring property from one individual or company to the other. It includes all legal procedures required to transfer ownership of sale and purchase or occupy (transferring or creating a lease) a commercial property. The law that governs the purchase and sale of commercial real estate can be complex; that’s why you must seek the advice of an experienced commercial conveyancing solicitor. If you want to buy or sell a commercial property, whether for investment strategy, business purpose, or redevelopment, our professionals can help.

Our commercial conveyancing solicitors deal with all types of commercial properties, including warehouses, offices, restaurants, multisite lets, and development land. Whether you are a buyer, owner, or occupier of commercial property, our solicitors ensure that these transactions proceed smoothly for you.

We offer a comprehensive commercial conveyancing service for a wide range of property transactions and leases, which include:

Negotiating and Granting leases

A lease is the grant of a right to exclusive possession of the property for a specified period in exchange for payment of rent. At the commencement of the transaction, both the landlord and the tenant agree on the key terms of the lease. These terms are normally stated in the ‘Heads of Terms’. Generally, commercial leases are granted for fixed-term and are either a business tenancy under the Landlord and Tenant Act of 1954 or are contracted leased.

Commercial leases can either retain valuable assets or impose costly commitments so, it is critical for clients to ensure exactly what they are committing. Our SI commercial conveyancing solicitors are experts in preparing, negotiating, and advising clients on commercial lease agreements. We assist with a wide range of lease issues and act for both individuals and businesses. We clarify all of the implications and liabilities of a commercial lease agreement.

Advice concerning Assignments, Sub-Letting, under Lettings and Alterations

Usually, commercial leases specify that the tenant cannot make alterations to the property or sublet it without the landlord’s permission. A tenant who wants to assign his/her lease to anyone else or sublet the property must get the landlord’s permission first. The procedure does not simply include granting or not granting permission; the terms of the licence incorporating such permission must also be thoroughly examined.

We at SI assist you on legal matters, whether you’re a tenant who wants permission from your landlord or a landlord who has been approached with a permission request. Our commercial conveyancing solicitors assist with comprehensive lease review and preparation and give you expert advice from the start-to-finish on current lease assignment, sub-letting, underletting, and alteration matters.

Rent Deposit Deeds

A rent deposit is a money that the tenant gives to the landlord to guarantee that the rent will be paid and that the tenant will follow the terms of the lease. Although it is known as a rent deposit, it is also used for purposes other than rent, such as covering the costs of damages. The rent deposit deed sets out the conditions under which the landlord can use the money and the conditions under which the deposit will be returned to the tenant.

Our solicitors at SI protect your interests and prepare the contract for you. They assist you in all aspects of commercial rent deposits, including who retains the deposit, who is liable to interest, when the landlord should be allowed to take money from the deposit, and when the deposit should be returned to the tenant.

Advice on Rent Reviews

Our commercial conveyancing solicitors assist clients in reviewing rental agreements to match them with the tenant’s business objectives and provide owners with a valuable advantage. For example, if a tenant wishes to stay in his/her current location for some more years, the lease term can be extended by a few years with the agreement of both parties. This also strengthens the investment value of the owner’s property and benefits both parties.

If you’re going to grant a new lease, you might wish to consider alternatives to the standard open market rent review. Such as an increase based on the retail price index or a fixed stepwise increase. However, these reviews sometimes result in disagreements between owners and tenants. Having the advice of a professional can minimize this risk and make sure that you are secured in the case of a dispute.

Advice on Service Charges

The cost of insurance, maintenance, and repairs of the shared property is primarily covered by service charges. The lease agreement specifies how and when the landowner can impose service charges. In some situations, the tenant thinks that the landowner and its representatives profit from these charges by overcharging. Tenants are not legally bound to pay service charges if it is not given appropriately and by the law. Some common disputes that emerge on a Service Charge include:

• Failure to provide a detailed breakdown of costs in a Service Charge bill
• Unexpected service charge invoices (such as balancing with no notice or explanation)
• Failure to inform tenants of when/where the accounts can review
• Heavy administration fees (such as managing agent fee)
• Unspecified maintenance charges

SI solicitors advise both landowners and tenants on the dispute of service charges and represent clients at the First-Tier Tribunal (FTT) Property Chamber. Our solicitors also help with alternatives to the FTT, such as mediation.

Lease Renewals

Renewal or extension of a lease ensures future property ownership and maintains its value. The best time to renew or extend the lease is when it remains 80 years to run. When a lease has less than 80 years left to run, it is normally more expensive to renew or extend it. That’s because a landlord can charge more for extending shorter leases, which is termed ‘marriage value’.

Even though most lease renewals go well, there may sometimes be issues with the landlords. Our expert SI commercial conveyancing solicitors help clients in a situation where a landlord is extremely hard to deal with. They keep clients updated at every step of the procedure. Our solicitors also help with those lease renewals that are already agreed upon between both parties but still require the completion of legal paperwork. Extending or renewing a lease takes several months typically, and in more complicated circumstances, sometimes longer.

Lease Variations

Commercial leases usually last for ten years or more. A lease may need to be amended from time to time. Such as when there is a need to divide service charges or when the combined contributions of the tenant are less than or more than 100% of the landlord’s spending. In these cases, a deed of variation is used to change the lease. It is a standard document that a landlord and a tenant use when they want to change the terms of an existing lease.

If you think that your lease is now out of date or needs to be changed, we can help you and provide legal guidance throughout the procedure to prevent complications. We assist you in negotiating a suitable lease restructure that represents the current market situation as well as your company’s present and future demands.

Purchase & Sale of Residential Property

Our commercial conveyancing solicitors offer straightforward and practical advice on the purchase of any residential property. We guide you throughout the procedure.  Our services for the purchase of residential property include pre-contract negotiations and investigations, document drafting and review, contract exchange, and transaction registration.

We also provide professional assistance on the sale of any residential property. We manage all aspects of the transaction for you and provide tactical advice throughout the procedure.  Our services for the sale of the residential property include completing standard inquiries of the property for you, pre-contract negotiations, document/drafting review, and contract exchange.

Purchase & Sale of Commercial Property

Our commercial conveyancing solicitors offer straightforward and practical advice on the purchase of any commercial property, whether freehold or leasehold. We guide you throughout the procedure.  Our services for commercial property purchase include pre-contract negotiations and investigations, document drafting and review, contract exchange, and transaction registration.

We also provide professional assistance on the sale of any commercial property, whether freehold or leasehold. We manage all aspects of the transaction for you and provide tactical advice throughout the procedure.  Our services for the sale of commercial property include completing standard inquiries of commercial property for you, pre-contract negotiations, document/drafting review, contract exchange, and arranging the repayment of any remaining mortgages.

Purchase & Sale of any Leasehold Property

Our commercial conveyancing solicitors offer straightforward and practical advice on the purchase of any leasehold property. We guide you throughout the procedure.  Our services for purchasing leasehold property include pre-contract negotiations and investigations, document drafting and review, contract exchange, and transaction registration.

We also provide professional assistance on the sale of any leasehold property. We manage all aspects of the transaction for you and provide tactical advice throughout the procedure.  Our services for the sale of leasehold property include completing standard inquiries of the property for you, pre-contract negotiations, document/drafting review, contract exchange, and arranging the repayment of any remaining mortgages.

Gift Transfers

Whether you’re gifting property to transfer your assets to your children, reduce Inheritance tax, or simplify your holdings, gift transfer is a big decision. A property is a valuable asset to gift, and it must be transferred carefully to secure both you and your children. If the procedure is not handled by a professional, this may easily go wrong. That’s why you must consult a legal advisor while deciding on your property. We can assist you in the legal and tax concerns of transferring property as a gift.

Our commercial conveyancing solicitors at SI assist you in every aspect of the gift transfer. Gifting property needs the signing of a ‘Deed of Gift’. This is a legal agreement that must be carefully completed to avoid any complications or challenges in the future. We move quickly to finalise the transition within the time limit and make sure that your gift is given properly.

Shared Ownership

Shared ownership is an affordable programme of homeownership in which you buy a 25 to 75% share of a property and pay the remaining rent to a housing society (and also mortgage payment to your lender). Normally, you’re given the option to pay for the remaining shares of the property later on. Properties of shared ownership are always leasehold, and there are Government restrictions to follow. That’s why conveyancing such properties is typically more complicated than a simple purchase. You need to hire an expert solicitor who is well-versed in the scheme to manage your transaction.

Our professional commercial conveyancing solicitors assist you in all matters of your shared ownership property transactions, including:

• Guiding you on the scheme rules, whether you are eligible for shared ownership, or whether this is appropriate for you
• Collaborating with relevant parties, including the housing authority, their solicitors, and your mortgage lender
• Investigating the property title, conducting local authority and land registry searches, and reviewing the lease terms
• Monitoring the preparation of legal documents and explaining their conditions to you
• Dealing with the land registry for the purchase’s registration

Commercial property can be a valuable investment as an asset or for your business. We are familiar with the commercial difficulties and unique challenges that such transactions carry. We have expertise in dealing with high-value and complex transactions. We customize our advice to fit your commercial objectives and work professionally to move your matter forward promptly.