Our commercial property solicitors make buying or selling commercial property straightforward. Whether it's an office, a retail unit or industrial premises, call us to help your transaction go smoothly.
We provide a fully integrated service for every aspect of buying and selling commercial property such as offices, industrial units or retail sites. We provide legal expertise to occupiers, investors and developers. Tees is a full-service law firm, so we have immediate access to other legal experts, for example, if the transaction is part of a wider corporate scheme, we can call on the expertise of our corporate and employment teams.
Our services include:
If you’re a developer, we offer help at every stage, including buying sites for immediate development, acting on long-term option agreements, and managing joint venture schemes. We have in-depth knowledge and experience of the East of England region. We’ve handled agreements for clients from North London, Essex and Hertfordshire up to North Cambridgeshire and beyond. We’ve also worked on long-term strategic schemes worth millions and on much smaller projects involving just a few units.
If you are selling land or renting it out as a landlord you may be asked to provide replies to commercial property standard enquiries before exchange of contracts. These enquiries include questions on a range of aspects including:
• The physical condition of the property
• How the property can be accessed
• Any maintenance agreements for any boundaries to the property
• Insurance policy documentation
• Asbestos survey reports
• Fire risk assessments
• Planning permissions and/or building regulation completion certificates
• Energy performance certificates
• Electrical installation certificates
• Information on the VAT position and capital allowances.
To speed up ths process, it is advisable to have this information and/or documentation to hand. The replies given are relied upon by the proposed purchaser or tenant. It is therefore very important that the replies are as accurate as possible. They must not be in any way misleading and must be kept up-to-date until exchange of contracts or completion of the lease, otherwise you may find yourself liable for a claim.
Stamp Duty Land Tax (SDLT) is a form of tax which you may be required to pay if you buy, or in some circumstances rent, a property or land in England or Northern Ireland. The amount due (if any) will depend on the purchase price. If you are renting, the amount due will depend on the length of the term, level of rental and whether or not VAT is charged on the rent. If SDLT is payable on the transaction, you will be asked to complete a SDLT return. This will need to be submitted to HMRC, together with the amount payable within 14 days of completion, otherwise you will be liable to pay a penalty fee. Your solicitor will be able to file the return on your behalf.
An Energy Performance Certificate (EPC) is required by law when a property is built, is being sold or rented out. There is a duty to commission an EPC before the property is put on the market. It shows information about the energy efficiency of a property, including the property’s energy use and typical energy cost. The certificate also provides an energy efficiency rating from A (most efficient) to G (least efficient) and is valid for a period of up to 10 years. If a commercial property is let, a landlord is required by law to have a minimum EPC rating of “E” and may need to make improvements to the property until this has been achieved.
There are certain types of property which are exempt from needing an EPC. These include those which do not have a roof or do not have walls, those which use no energy to condition the indoor climate, religious properties and buildings earmarked for demolition.
Having a property surveyed before buying or renting is highly advisable. It can give you a good idea of the condition of the property and highlight problems which you may otherwise not know about. Commercial tenants should be particularly wary when entering into a lease. This is because the lease may contain repairing obligations that require a tenant to give a property back to the landlord fully in repair. This may be the case even if the tenant was not responsible for any damage, or the property was not in a good state of repair at the start of the tenancy. Your solicitor will advise that you try to limit these obligations.