Commercial Property Sales and purchases

Why (or when) someone would need this service?

A freehold owner (landlord) may require the expertise of commercial property purchase solicitors when granting a new lease to a tenant or at the time of lease renewal. This is also applicable for freeholders looking to sell their business and grant a new lease to the buyer. Additionally, commercial tenants often seek out commercial property sale solicitors near me to represent their interests in such transactions.

How does the process work/what are the steps?

The process typically begins with the landlord and tenant agreeing on outline terms, either directly or through a lettings agent. Each party then appoints their own solicitor, such as a commercial property purchase solicitor for the buyer or a commercial property sale solicitor for the seller. The landlord’s solicitor handles enquiries and drafts the lease in line with the agreed terms. A surveyor may be needed for planning. After negotiating the lease terms, the agreement is finalised and the landlord retains a copy. Upon completion, rent and other dues are collected.

In lease renewals, commercial property sale solicitors near me might be involved in serving statutory notices under the Landlord & Tenant Act 1954, which grants security of tenure rights to many commercial tenants. If terms cannot be agreed upon, our team can assist with court proceedings or professional arbitration under the PACT Scheme.

How long does it take?

A typical transaction should take about four to six weeks, assuming both parties are cooperative. However, lease renewal disputes requiring court intervention can take several months. During this period, the tenant continues to occupy the property under statutory or agreed terms.