Commercial Property Law Advice
Commercial premises are a key part of typical business expenditure. Taking on a lease can be a big commitment. Unlike the residential lettings market, commercial tenants do not receive a great deal of statutory protection, and therefore can benefit from professional commercial property law advice.
It is therefore important to make sure you get professional legal advice on all aspects of property law from the outset to minimise the risk and ensure that the commitment is reasonable for your business.
Commercially orientated advice for both landlords and tenants
We advise commercial landlords and tenants on many property law issues including :-
- Drafting and negotiating commercial leases
- Assignments (transfers of existing leases) and sub-letting
- Enforcement of breach of covenants including forfeiture
- Lease renewals and serving statutory notices
- Issuing proceedings for the possession of premises
- Advising either landlord or tenant on licences to assign, alter or sublet
- Service charge disputes
- Recovery of rent arrears
Types of business premises where we can assist
- Retail unit leases
- Restaurant and café leases
- Office leases
- Industrial unit leases
- Shop leases
- Licence agreements
Common commercial lease pitfalls
Common issues with commercial leases include :-
- Duration - a landlord may look for a longer lease whereas in many cases a tenant will require a shorter lease in these uncertain times
- Use - what does the lease provide regarding permitted use? A landlord may seek to ensure the permitted use is restrictive whereas a tenant may have an eye on selling the lease on in the future and a wider use may make it easier to market in the future. Planning permission may dictate what the premises can be used for. Having a commercial property solicitor conduct searches will make sure you are aware of what the premises can be used for.
- Expense - you should ask whether you will have to pay service charges and whether your rent will be subject to VAT
- Repairs - you will want to make sure it is clear as to who is responsible for repairs to the property. If you want to make alterations to the property, you will also want to make sure that you are aware of whether you will have to return the premises to their original condition.
The best way of avoiding the common pitfalls involved with a commercial lease or commercial property is to seek bespoke, professional legal advice.