Sale and Purchase of Freehold Commercial Property
If you are considering acquiring a freehold commercial property, Saracens will ensure that your matter is dealt with by an experienced property lawyer regardless of the nature or value of the transaction.
Our commercial property team act for a broad range of companies and individuals in the United Kingdom and internationally, advising on all aspects of freehold commercial property. We understand that these types of transactions involve a number of legal as well as commercial issues. We will work with you throughout the transaction from negotiating the Head of Terms through to completion of the contract.
Reasons for Acquiring a Freehold Commercial Property
Individuals purchase commercial properties for many reasons including:
• To acquire the right to change the property to fit their business needs without having to obtain permission from a landlord
• To have complete, long-term security of tenure
• To be able to sub-let parts of the premises that are not being utilised
• As an investment
When acquiring an investment property it is crucial that full and extensive due diligence is carried out on the property, the occupational lease (if one exists) and the occupational tenant. We will ensure that you are guided through the entire process and provide you with a detailed report of our investigations to assist you to make a commercial decision to proceed to completion.
If your investment is being supported with bank finance, Saracens Solicitors may assist you. We have strong working relationships with a number of commercial lenders. We will advise you on any security requirements over the freehold property as well as additional security required by the lender. However the transaction is structured, Saracens can advise you fully on all aspects of the deal.
Selling a Freehold Commercial Property
If you are planning to sell your freehold commercial property you will require sound, solid legal advice from the outset in order to see the sale run smoothly. Our commercial property lawyers will advise you on:
• A well-drafted Head of Terms
• Warranties and indemnities
• Negotiations as to the purchase price and restrictive covenants
• Your rights and obligations with regards to any existing tenants
• Exchange of contracts and completion
If you are based outside the United Kingdom and wish to sell or purchase a freehold commercial property, you can be confident in our services. As well as having full, in-depth knowledge of the British property market, we have a multi-lingual team with an understanding of the legal requirements and business relating to commercial property within Europe, the Middle East, Asia and America.
To discuss the legal aspects of the sale and purchase of a freehold commercial property please request a call-back or phone our London office on 020 3588 3500.