Our Commercial Property Lawyers act for businesses and individuals in the purchase, asset management and sale of Commercial Property including offices, retail, industrial leisure, and mixed use property.
We can advise on Property Investment, Secured Lending, Business Leases and Disputes when they arise. By understanding our clients’ intentions from the beginning of transactions, we seek to protect their long-term interests.
Our Commercial Property Team are experts in helping our clients in the acquisition and disposal of all types of Commercial Property including offices, industrial units, retail or hospitality premises and anything in between. We act for both domestic and international owners and occupiers of Commercial Properties including investors, PLC's, start-ups, trusts, and charities.
Our Landlord and Tenant Lawyers at Herrington Carmichael offer a wide range of legal services to assist in all areas of Landlord and Tenant Law, dealing with Commercial Property matters across all sectors. We act for domestic and international owners and occupiers of Commercial Properties, investors, PLCs, start-ups, enterprises, trusts and charity landlords and tenants.
Our team provides pragmatic, commercial and high-quality advice to both Landlord and Tenants in respect of business leases and other Commercial Property arrangements.
Our lawyers are assertive Litigators and experienced Negotiators. We can advise you of your options to achieve a resolution of your Property Dispute which may include Court Proceedings, Arbitration, Mediation and other Dispute Resolution alternatives.
Where Litigation is inevitable, cases are pursued with both vigour and pragmatism.
Our Commercial Landlord & Tenant Disputes team can assist you with all kinds of lease and property related disputes including:
Our Collective Enfranchisement Team at Herrington Carmichael is able to work quickly and cost-effectively to offer you a detailed understanding of this (often complex) area of law.
Our team can help you to establish whether you qualify to initiate a Collective Enfranchisement Claim, or can take you through the process of responding to a Right of First Refusal offer ('Section 5 Offer') from your Landlord.
Our team of specialist Property Solicitors regularly work alongside groups of tenants to provide comprehensive expert advice and support with Collective and Leasehold Enfranchisements.
All Construction or Development Projects of any size will invariably involve a number of different parties with numerous different legal agreements. It is crucial for the smooth running of a project to get an early grasp on what will be required, what basis the parties will be contracting with one another are, and what level of Contractual Protection there is.
Whether you are starting out in the Construction Industry and require strategic legal advice on the various procurement options, or you are an experienced property developer seeking legal advice on complex developments, we have the experience and knowledge to help.
We work closely with other teams in the firm, in particular our Construction, Corporate and Banking, and Real Estate Dispute Resolution teams, so that we offer a multi-disciplinary service to advise clients on the best way of structuring and financing any given transaction.
At Herrington Carmichael, we also recognise the importance of working alongside our client's other professional advisors, with pro-active advice and support every step of the way.
Our team of expert property investment solicitors act for clients in all aspects of the property sector, including commercial and residential developers, investors and housing associations across various property sectors including offices, industrial, retail, leisure & hospitality, pharmaceutical, life sciences, energy and technology.
We have a dedicated team of dispute lawyers with a range of expertise and experience dealing with property & construction disputes.
We advise on a wide range of land disputes acting for developers, property investors, landowners, tenants, neighbours, professional advisors and other individuals. Our expertise in all forms of Dispute Resolution makes us well placed to advise on complex and high value cases to the more modest claims.
We represent clients in the courts, property tribunals, in adjudication and use alternative dispute resolution procedures, including mediation, to resolve disputes. We understand your concerns to avoid the expense and distraction that disputes can bring and we will work with you to find a solution to your problem.
Our real estate development finance and secured lending team have industry recognised expertise and regularly advises clients on a full range of complex property financing transactions and arrangements.
We are experienced in drafting and advising on documentation based on LMA standards, bank standard documents, complex security suites (including overseas) and multi-currency lending arrangements.
We manage transactions from start to finish, ensuring a smooth and cohesive process which facilitates commencement to completion in a quick and timely fashion. We will invest the time upfront with you to understand your standard internal facility documentation and security requirements. Our expertise includes:
Alongside our corporate and commercial teams, we are able to offer advice on:
Our specialist retail property lawyers have a wealth of experience in dealing with the full life cycle of retail assets, in particular active portfolio management. Our retail property solicitors can provide swift, pragmatic advice which is underpinned by a comprehensive understanding of the retail market and is fully tailored to both landlord and tenant clients' commercial needs.
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Find answers to your most pressing questions about our services and processes.
When a seller instructs us to act for them in relation to the sale of their commercial property, they are sometimes unaware of the legal procedure involved in a sale, and also the documentation that will be required from them in order to satisfy a buyer.
We have therefore produced this summary as a brief guide to the documentation required from a seller, and as an overview of the sale process once a seller instructs a solicitor.
What is the Sale Process?
There are a number of documents that you will need to provide when selling your commercial property, including the following:
To avoid delays in the sale transaction, it is important that this documentation is provided to the buyer as soon as possible. Whilst the above list sets out common items required by a buyer, there may also be other documentation required, which is relevant to a particular property transaction.
Searches enable buyers to learn as much as they can about a property before committing to the purchase. Anything unexpected which is revealed can be raised with the seller pre-exchange, with a view to resolving or renegotiating the purchase price or other terms of the transaction. Therefore, sellers need to be equally aware of the importance of searches when selling commercial property.
If you are taking out a mortgage to purchase the property, your lender will likely require at least a Local Search, Drainage & Water Search and an Environmental Search. Frequently they also still require a search concerning Chancel Repair Liability. Even if you are a cash purchaser, the below searches should always be considered.
The title of a property will usually be investigated when the property is either being sold or leased out. The buyer or prospective tenant under a lease will want to establish whether the seller is legally able to transfer the title to the property that the seller has contracted to sell and that there are no defects in that title that would adversely affect the buyer’s interests.
A seller or landlord needs to establish whether there are any title defects which need to be resolved or disclosed to the buyer.
A lender taking security over the property needs to establish that there are no defects in title that might adversely affect the value of the property or the ability of the lender to sell the property to realise its security.
Putting a title policy in place
Where a title indemnity policy is required it is not uncommon for the insurer to require replies from the property owner to a number of enquiries relating to the defect that has been identified and for certain documents to be provided as evidence to assist in assessing the risk posed by the defect. For example, the seller may be required to provide planning documents, a statutory declaration confirming the use of the property or land over which rights are exercised, and copies of the titles affected by the defect.
A title indemnity policy will not remedy the title defect – instead it provides financial compensation in the event of the defect causing actual loss, subject to the limit of indemnity stated on the policy. This amount is usually the value of the property in question, the amount of the mortgage being obtained, or the gross development value of a site that is to be developed.
The default position is that commercial properties are exempt from VAT. This means that the purchase or leasing of the property would not attract VAT on the purchase price or rent.
However, it is not as simple as that and an owner of commercial property can elect to waive this exemption from VAT and choose to charge VAT on a property. This is known as the “option to tax”. The “option to tax” is a long term commitment as once made it cannot be revoked for 20 years (although there are circumstances where it may be revisited within six months of it being taken). Before making such a commitment it is important to consider the implications. To assist with this some points to consider are:
When considering buying or taking a lease of property it is important to find out the VAT status at an early stage. If VAT is payable there could be serious financial implications that you may not have factored into your budget and may test the financial viability of the planned acquisition.
