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Our Commercial Conveyancing team routinely assists with buying and selling commercial property as well as handling all aspects of commercial leases, from granting to assigning and renewals, through to termination and variations.

We understand that focused, timely and commercially astute advice can make all the difference to your success and that’s why we are committed to ensuring our clients benefit from the expertise and experience of a commercial conveyancing solicitor.

We offer a coordinated approach to provide you with a full range of commercial conveyancing services:

  • Acquisitions and sales of freehold commercial property
  • Granting and assigning commercial property leases
  • Renewing, terminating and varying commercial property leases
  • Commercial mortgages
  • Landlord and Tenant Act 1954 procedures
  • Conditional contracts relating to planning
  • Overage and clawback

Whatever your commercial objectives, with 9 offices across the county of Essex, we act as trusted commercial conveyancers, offering a can do approach.  Our extensive links in the local area allow us to provide you with a network of invaluable contacts to assist you with your commercial objectives.

We are regularly chosen by businesses, big and small, to handle a range of ventures from residential developments and complex commercial mortgages to acquiring cafes and coffee shops. Whether it’s the acquisition of a property, the assignment of a lease, or the transfer of a business as a going concern we are here to serve your needs.

We are able to act in a range of situations, covering landlords, tenants, sellers or buyers. A comprehensive understanding allows us to ascertain the needs of all parties in a transaction, producing quicker outcomes while meticulously ensuring no aspect is overlooked.

Our commitment to excellence means that we can offer you a flexible and fast approach to meet your deadlines.

Looking for more? Below are some common Frequently Asked Questions:

What does a commercial conveyancing solicitor do?

Our commercial conveyancing solicitors will check the title to the property thoroughly, locating and identifying any potential problems early on, and suggest practical, workable solutions to these problems, whilst thoroughly reviewing all documentation with an eye to improving upon it.

To use an example, if acting for a proposed purchaser of a lease, our commercial property solicitors will report to you on the extent and duration of the costs and liability you will be taking on if you proceed to sign the lease on the terms being offered by the landlord. If you are not satisfied with those terms we can even seek to negotiate with the landlord on your behalf.

Our solicitors will report to you conscientiously and meticulously on the property, creating for you a comprehensive dossier of analysis. If you are in the process of negotiating the terms of the lease, you should ensure that any offer clearly shows the extent of the property; with the boundaries clearly defined and marked on a plan together with a clear record of the floor area. All means of access, including any access or areas you must share with other occupiers (such as fire escapes), and any limitation on the hours of use, or restrictions in the type of use, including any legal or planning limitations or obligations that affect the property should also be noted.

Our commercial property solicitors will make enquiries and obtain full details of your expected costs involved with leasing the property. If the lease allows subletting, we shall advise you on any limitations. Our commercial property solicitors will also advise you on your repair obligations and any requirements you will need to comply with if you seek to change the use of the property or make any alterations to it.

Essentially, a commercial conveyancing solicitor provides clients with the detailed, practical advice necessary to make informed decisions about their transaction whilst keeping stress to a minimum. 

Option to purchase land

If you are looking to acquire land for development then our commercial conveyancing solicitors are here to assist you. There are a number of transaction structures available to you if you are seeking to acquire land for development which we can advise you on.

Conditional planning permission

You can enter into a contract with a seller conditional on planning permission as a means of securing an interest in the land which has development potential, without being under an obligation to buy the land unless the planning condition is satisfied. This is an obvious advantage for the developer.  A disadvantage would that the developer cannot be certain of the amount of the planning gain costs, which will be payable under a planning agreement. These costs may substantially increase the overall cost of acquiring the land, but the contract is likely to provide for a fixed purchase price without allowing the developer to deduct planning gain costs from the purchase price.

Drafting the documentation requires care and attention to ensure that the contract complies with the developer’s and landowners respective requirements. It is vital that the developer and the landowner agree on what will be deemed a ‘satisfactory planning permission’; usually being a trigger event that will make the contract unconditional, and whether any party will have an absolute discretion to determine whether the planning permission is in fact satisfactory.

The conditional contract will also contain a definition of ‘planning application’ and a definition of ‘development’. These definitions will require careful consideration also.

The contract will also need to provide that if a satisfactory planning permission has not been granted by a certain date then the contract may be terminated whilst allowing for extensions of the planning period in certain circumstances. The contract will also seek to define the landowners and developers obligations under the contract. For example, from a landowner’s point of view, they will want to impose various planning obligations on the developer such as to submit a planning application to the local planning authority within a specified period.

By way of further example, and from a developer’s point of view, they will want to impose various obligations on the landowner, such as an obligation to assist the developer in obtaining a satisfactory planning permission and to enter into any planning agreement required as a precondition of a satisfactory planning permission being granted. To explore further, please telephone to speak with a commercial property solicitor.

What is an option agreement?

An option agreement is like a conditional contract except the developer is not usually obliged to purchase the land in the event of a satisfactory planning permission being granted. This overcomes the disadvantage to the developer of the conditional contract which is outlined above. An option fee will usually be payable to the landowner. The purchase price for the option land may be a fixed sum but, more often than not, it will be based on the open market value of the land. To explore further, please telephone to speak with a commercial property solicitor.

What is an overage clause?

If you are selling some land and that land has a present value for which a price is being paid but there is a chance that the value will increase over time, perhaps because planning consent may be granted, then our commercial conveyancing solicitors have the expertise to advise you on what is required to ensure that you share in the increase in value if and when it happens. This is what is known as ‘Overage’. There are different approaches to overage and different techniques to deal with it. Every overage is unique to the facts and no one method applies to every set of facts. Our commercial conveyancing solicitors can advise you on the negotiation of the overage and your accompanying rights.

Please see the below pages to learn more about the other property related legal services that we offer:

Lease extensions

Residential conveyancing

Costs information

All solicitors are required from December 2018 to prominently publish price of service information on their websites, in the interest of safeguarding the interests of the consumer.  At Kew Law LLP we are working with and implementing this requirement now in order that potential clients can be sure they are making an informed choice and are obtaining a great service at a competitive cost.  Our firm has, since its inception in 2009, worked on the basis of providing our clients with clear quotations giving our best fee estimates, so we welcome this added safeguard for our clients and consumers in general.  We know that each transaction is different and “one size does not fit all” so, to obtain your “bespoke quotation”, please telephone one of our commercial property solicitors who will be able to discuss your matter with you.

 

By way of explanation, quotations are influenced by a number of factors including the price of the prospective property (higher price brings a conveyancing firm higher risk), whether mortgage finance is either needed for a purchase or a mortgage needs to be redeemed, the length of the Lease and the annual rent and whether any other documentation is required (for example, Rent Deposit Deeds, Asset Purchase Agreements or Licences to Assign, etc.).

 

The best way to obtain a bespoke quotation adapted to your unique transaction is to telephone us on 01376 5000489.  We will always provide you with a quotation in writing which will be “tailor made” to your transaction.  The person  dealing with or supervising your matter will be a solicitor with at least 7 years experience, no huge teams working from huge offices.  This way you can be sure that the person with responsibility for your matter will be qualified to do the job.

 

Here are some examples of commercial conveyancing fee quotations you can expect in a selection of situations, we have estimated third party costs which are included (named as disbursements) such as Stamp Duty Land Tax, official copies of Land Registry documents, searches and Land Registry fees.  Please note these examples are illustrative only, to obtain an individual quotation please contact us.

 

  1. Construction Company Limited own a freehold commercial unit which it  intends to lease to a third party for a term of 10 years at an annual rent of £30,000 per annum.  There is no superior Landlord and no Rent Deposit Deed is required.  In this situation the solicitor’s fee quotation can be expected to be in the region of £1,200 – £1,500 + VAT.  They can expect to spend approximately £6 obtaining up to date office entries from the Land Registry.
  2. Construction Company Limited is purchasing a freehold unit for £325,000.  It is obtaining mortgage funding.  There are no title issues, no requirements for indemnity insurance, no management company involved and the matter is expected to proceed smoothly with both parties cooperating in a prompt manner.  In such transactions the solicitor’s fee quotation can be expected to be in the region of £2,000 – £2,500 + VAT.  They can expect to spend approximately £350 + VAT on instructing the searches required and disbursements of a further £140 for Land Registry searches and registration and Stamp Duty in the region of £5,800 (as at October 2018).
  3. Construction Company Limited wish to take on a new Lease of a new premises.  The Lease is for a period of 10 years with an annual rent of £20,000 per annum + VAT.  A Rent Deposit Deed is required as well as a Licence for Alterations in respect of Construction Company Limited’s fit out works for the property.  In such a transaction the legal fees are likely to be £1,800 + VAT and disbursements.  They will also pay a search fee at the Land Registry of around £3 and a registration fee of around £80. They may have to pay Landlord’s fees but we can endeavour to negotiate them away or negotiate a cap to protect you.
  4. Construction Company Limited is purchasing an existing Lease for £60,000.  A Licence to Assign is required.  In this transaction solicitor’s fees are likely to be £1,500 + VAT.  They will also be required to pay in the region of £25 the Land Registry in respect of registering the transfer of the Lease and preregistration searches.
  5. Construction Company Limited is assigning its Lease to a third party.  There is a requirement to enter into a Licence to Assign with the Landlord and the new tenant.  In such a transaction legal fees are likely to be £1,050 + VAT.  Your solicitor may need to provide an undertaking to the Landlord in respect of the Landlord’s fees and in such a situation the fee for providing such an undertaking will be in the region of £125 + VAT.  They will also be required to provide up to date copies of the Lease and title which in most instances can be obtained from the Land Registry for approximately £9.

As you can see from the above examples, there are many factors which control how complicated and time consuming buying, selling or leasing a commercial property can be.  The best thing to do is obtain a quote by calling us on 01376 500049 and chatting through your intentions.  Remember, it is only solicitors or firms regulated by the Solicitors regulation Authority who are obligated from December 2018 to provide you with up front clarity so ensure you read the small print if you obtain quotations from other firms!

 

 

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