Commercial Conveyancing

Commercial conveyancing, buying or selling a shop, office, warehouse or any other commercial property is similar to buying a normal house or flat. Just as with a house or flat we check the title and carry out prudent enquiries but commercial property, by its very nature, is often more complicated and there are important differences.

Most commercial property is leasehold. If you are buying, remember, leases are drafted by the landlords solicitors and are often heavily weighted in the landlords favour. The most important time for trying to get a proper balance into the lease is right at the beginning of the negotiations, before you have committed yourself and before the landlord or it's agent really knows you want the property. While they still think they could lose you they are more likely to make concessions. When they know you are committed emotionally even if not legally they will be more likely to play tough.

In an ideal world you would consult us before making an offer. We would then advise you on the terms to try and agree:

• A rent free period to cover the cost of refurbishment or fitting out.
• Each side paying their own legal fees (beware of agreeing to pay the landlords legal fees). If you must, at least agree a maximum contribution and not an open cheque for whatever they come to).
• A break clause allowing you to get out at the first rent review if the business has been unsuccessful or the new rent is too high.
• No personal guarantees.
• Reasonable rent review and assignment clauses.

If in the enthusiasm of the moment you agree unfavourable terms before consulting your lawyer it is very hard to undo them afterwards.

Call us on 020 3633 4060