Buying, selling or leasing commercial property can be a complex and time consuming procedure. At A C White Solicitors, we have acted for small to medium size developers and corporations in the purchase and sale of development and commercial properties.
We act on behalf of a wide range of business clients in retail, licencing and other commercial enterprises. We will be more than happy to discuss with you the sale or purchase of commercial property, the drafting of commercial leases or business acquisitions.
Commercial Property Purchase & Sale
At A C White Solicitors, we have assisted and guided individuals, associations and limited companies in their acquisition and disposal of varying types of retail, commercial, and light industrial premises and from greenfield and development sites to bespoke office suites and business units. We are here to provide you with advice from initial Heads of Terms, to draft and review of offers requirements for specialist reports, planning and building consents and liaison with commercial lenders and of course handling your all-important settlement of the transaction.
Commercial Leasing
Whether you are a Landlord or a Tenant we’re here to assist you in the drafting and review of commercial leases, Full Repairing and Insuring Leases, Rent Reviews, Service Charges, Sub-leasing and Assignations and Licences to Occupy and Dilapidations. We appreciate just how important it is to ensure your end of the deal is protected and we will endeavour to explain the details of the lease you need to know clearly and concisely. We can also assist with any necessary Land and Building Transaction Tax returns and the now applicable three yearly revue submissions to Revenue Scotland
Commercial Property - FAQs
We strongly advise that a survey is necessary to provide an accurate valuation of a commercial property. We can assist you in instructing a report via a specialist surveyor. It may also be in your interest to have a Schedule of Condition of the property prepared to avert any disputes at the end of the lease. Energy Performance Certificates are also now required and depending on the size of the property an Energy Performance upgrade programme may also be required. Older buildings may also require Asbestos Surveys and an Asbestos Management Plan be in place.
We shall be happy to give you a detailed and transparent quote. Please contact us to allow us to assist you further.
Yes! A Lease is a legally binding agreement imposing obligations on both Landlord and Tenant. It is extremely important to have specialist legal advice on the terms of a Lease before signing any documentation as oversights may not easily be rectified and can be painfully expensive.
Potentially yes. At A C White we can advise you on the Land & Buildings Transaction Tax applicable to your Lease transaction.
Commercial Property - Guide to Fees
Ordinarily this will be inclusive of talking you through the purchase process, working through the missives with you, concluding the contract, going over the title deeds, discussing your liability , if any, to Land and Building Transaction Tax (LBTT) and the Additional Dwelling Supplement (ADS), preparing the title and mortgage documentation, settling the transaction, submitting your LBTT return and registering your title.
While the exact fee will be dependent on the value and complexity of the transaction, we do at outset try to give you an all-inclusive estimate of fees with no additional costs for correspondence and dealing with Lenders, except where these haven’t been disclosed in advance by the client.
As an example
In a purchase transaction dependent on a mortgage with a purchase price of £150,000, the fee might be £750 plus VAT of £150, however as part of conveyancing transactions, there are also necessary outlays to consider.
These would be in this instance
- £260 to Registers of Scotland for registration of the Disposition (this figure will change based on the purchase price of the property);
- £80 for Registration of the Standard Security;
- £20 for an Advance Notice for the mortgage;
- £10 for an ID check.
