Commercial property law covers a wide range of property and legal matters.
Commercial property generally means any form of property which is not in itself a single residential property. Typical commercial properties would be industrial, retail and commercial units. Commercial property can also encompass agricultural property, investment property including blocks of residential property and development land.
Transactions involving commercial property range from leasing to outright purchase.
The purchase of commercial property involves complex legal and practical issues. For example it is important to ensure that all financial arrangements are in place as commercial lenders often have stringent requirements about lending on commercial property.
Commercial property purchase and sale often involves detailed conditions and suspensive conditions concerning planning and use matters on which legal advice is essential.
The purchase of commercial property can sometimes be part of an overall business purchase transaction where further issues can arise where legal advice would be essential.
There can be significant regulatory issues arising from the purchase and management of commercial property, examples being Health & Safety requirements, environmental considerations and planning and similar controls.
The leasing of commercial property can be particularly complex. Leases range from short term simple Leases to long term Leases for many years. Longer Leases often involve particularly detailed terms concerning matters such as the use of a commercial property, repair, maintenance and improvement, rent review, options to purchase and other matters. Early advice on commercial property leasing is recommended whether you are a prospective tenant or a landlord.
There can also be significant tax consequences arising from the sale of commercial property and Land and Buildings Transaction Tax consequence on the purchase or lease of commercial property.
How Hewats can help
Hewats can assist with advice concerning such matters in conjunction, where required, with other advisers such as your accountants.
Hewats have extensive experience and knowledge in acting both for the sellers and purchasers of commercial property and associated commercial activities.
Hewats also have extensive experience and knowledge in acting both for landlords and potential tenants of commercial properties.
If you are interested in purchasing, selling or leasing commercial property we would be happy to give initial advice.