COMMERCIAL PROPERTY FAQS
Commercial Property Questions
These are the most commonly asked questions. For further information please contact us using the information at the bottom of the page.
How long will it take to acquire my premises?
Agreements to buy or lease commercial premises are just like any other contracts - they can be concluded as quickly or slowly as the parties wish. Our agreement with you is that we will always do our best to comply with your timing requirements.
Commercial property agreements and leases can be complex and onerous documents though and it is important not to sacrifice your long term financial stability for short term speed. That is where our expertise comes in. We can advise you of the issues where you need to take special care and how to negotiate with the other side to achieve your best objectives.
How much will it cost?
Because the work involved in commercial property is less predictable than for example in residential property we do not have a fixed fee structure. Our fees in commercial transactions depend partly upon the time spent dealing with your transaction and partly on a number of other factors such as value, complexity, urgency and so on. We will give you details of these factors when you instruct us and a best estimate of the likely costs. We will confirm this to you in writing and keep you advised of the costs. This system enables us to charge a fair and reasonable fee for your transaction and you can be sure that it will be a competitive fee structure. You will also be responsible for the usual disbursements, such as stamp duty, Land Registry fees, search fees and the like. Once again we will give you written estimates of these at the outset of a transaction.
Our agreement with you is that you will be fully aware of the likely cost of your transaction before you embark upon it and are kept informed of your liability throughout.
Who will deal with my transaction?
Our commercial property department operates as a team and is based in Chichester. We have experienced, qualified partners and solicitors who deal daily with commercial property.
If I buy a shop, can I use it as an office?
Not exclusively. Planning Authorities specify certain types of usage. You cannot simply change use without the appropriate permission. We can advise you as to whether you are likely to obtain such permission and if necessary, assist you in making an application to the local Planning Authority.
The business space that I now have is too large. Can I sub-let?
If you are a freeholder, there should not be any problems. We can assist you with preparing the necessary lease or licence. If the property is leasehold, depending on the terms of your lease we can advise you and negotiate with your Landlord if necessary. We can prepare a sub-lease for his approval and liase with the sub-lessee's solicitors.
I wish to purchase commercial property as an investment. Can you advise me on this?
Yes. We can manage your investment from assisting you in purchasing the property, preparing the necessary leasing/licence agreements, assisting you in the collection of the rent and enforcing the tenant's obligations and liasing with all other professionals involved on your behalf. We can also deal with ongoing legal matters such as transfer of leases and rent reviews.
Free Enquiry
For free confidential advice about our commercial property services please call us on 01243 786 668 or complete our online enquiry form.