×

Sale and Purchase of Freehold and Leasehold Commercial Property

We provide our clients with a breadth of advice in connection with their sale or purchase, such areas include:

Purchase

  • Identifying and carrying out searches against the property to detect any legal issues such as breaches of planning permission, whether the property is subject to chancel repair liability or if the property is at risk of flooding.
     
  • Drafting and negotiating option and exclusivity agreements.
     
  • Reviewing title documentation to assess whether the property is subject to any easements (rights of way), restrictive covenants (restrictions on the use of the property) or mortgages that need to be discharged by the seller on completion.
     
  • Negotiating the terms of the contract to ensure your interests are protected: for example, if you want to benefit from a capital allowance election or need access to the property between exchange and completion.
     
  • Requesting and reviewing the standard replies in commercial property transactions ( “CPSEs”) and raising tailored enquiries to investigate the title and issues detected by our search results.
     
  • We routinely liaise with surveyors, engineers, lenders, insurers, accountants and other third parties to enable a transaction to flow smoothly and resolve any issues promptly.
     
  • Negotiating with the seller’s lawyers and agents with a view to resolving any issues identified.
     
  • Drafting the transfer deed and any ancillary documents required in your transaction: for example, a notice of assignment/transfer to a Landlord or a deed of covenant.
     
  • Liaising with the seller’s lawyer and any management company in respect of any service or management charges which the property is responsible for.
     
  • Arranging for the transfer of shares in a management company, if required. 
     
  • If you are buying the property with a mortgage, we liaise with your lender and mortgage broker, review the mortgage documentation and report to you on the terms.
     
  • Producing a detailed report on title for you and ensuring that you understand all the legal aspects of the property you are purchasing.
     
  • Advising you on the amount of Stamp Duty Land Tax (“SDLT”) payable and whether you can avail yourself of any exemptions. Our service includes filing your SDLT return with HMRC and ensuring that the strict time limits for doing so are adhered to.
     
  • Assisting in any VAT aspects of a transaction, for example, if a property has been elected for VAT purposes.
     
  • Carrying out standard pre-completion searches to protect your interests in the property and completing the registration of the transfer at the Land Registry, together with registering your mortgage and dealing with any requisitions raised by the Land Registry.

Sale

  • Drafting a contract, downloading title documentation from the Land Registry and obtaining any other documents required to produce the contract package.
     
  • Drafting and negotiating option and exclusivity agreements.
     
  • Assisting you in completing the replies to standard enquiries raised in commercial property transactions ( “CPSEs”).
     
  • Dealing with additional enquiries raised by the buyer’s lawyers and liaising with you to provide solutions to any issues encountered.
     
  • Liaising with your estate agent, insurer, surveyor to ensure that any issues are resolved promptly. 
     
  • Reviewing and negotiating the provisions of the transfer deed.
     
  • Drafting any ancillary documentation as is required in your transaction, such as stock transfer forms and rent authority letters.
     
  • Liaising with your mortgage provider(s) to ascertain redemption statements/settlement figures to discharge your existing mortgage(s) at the Land Registry.