Why Choose SMB Commercial Conveyancing Solicitors?
We, at SMB Solicitors, will play a crucial role in ensuring that the commercial property transaction that you are entering into is legally sound and that your needs are protected throughout the process. We will work closely with other professionals, including estate agents, surveyors, and lenders, to ensure a smooth and legally compliant property transaction.
The Role of Commercial Conveyancing Solicitors in Property Transactions
- Facilitating the purchase and sale of commercial properties, which can include negotiation, contract drafting, and ensuring that all legal requirements are complied with.
- Conducting due diligence to examine the legal status and history of the property, including title searches, compliance, and environmental assessments.
- Reviewing and negotiating contracts, such as purchase agreements and lease agreements, to protect the interests of our client.
- Ensuring that all transactions and agreements comply with local laws and regulations.
- Assisting clients with financing and mortgage arrangements for the purchase of commercial properties.
- Advising on and drafting commercial leases, including terms and conditions that protect the interests of landlords or tenant.
Why Choose SMB Solicitors?
Commercial Property work often requires negotiation and our team have the knowledge and skill to ensure the best possible outcome for you.
Should a dispute arise our highly skilled litigators are known for achieving positive outcomes vast range of property matters.
You will receive a dedicated point of contact with a member of our experienced commercial conveyancing team
We have overwhelmingly positive reviews on both Google and Trust pilot.
We are fully regulated by the Solicitors’ Regulation Authority.
Our property department is accredited under the Law Society’s Conveyancing Quality Scheme (CQS) and excel in recognition of their high standards of service
Based in London we can communicate via face to face meetings, email, telephone or video call.
We utilise technology to streamline our service delivery making it efficient and effective.
Special Considerations for Commercial Properties
Planning Regulations
As commercial conveyancing solicitors, we play a significant role in ensuring that commercial property transactions comply with planning regulations. Planning regulations are a crucial aspect of real estate as it dictates how land and properties can be used, developed, and modified. We are responsible for ensuring that the commercial property transaction adheres to planning regulations. Our role as your commercial conveyancing solicitor potential issues, address compliance concerns, and facilitate the legal aspects of navigating the planning and permitting process, ultimately helping our clients complete their commercial property transactions in a legally compliance manner.
Permitted Use & Change of Use
We play a crucial role in ensuring that commercial property transactions comply with the concept of permitted use and any necessary change of use requirements. Our role entails assisting our clients in navigating the complexities of Permitted Use and Change of Use regulations. We ensure that the intended use of the commercial property aligns with local zoning and planning regulations, or if not, to guide our clients through the necessary processes to obtain the required approvals for changes in property use.
Lease Renewals
A commercial conveyancing solicitor plays a vital role in lease renewals for commercial properties. We are legal professionals with expertise in property law, including lease agreements. We provide guidance and legal advice to both landlord and tenant clients during the lease renewal process. We can review the existing lease agreement and assist in drafting the renewal agreement. At the same time, your commercial conveyancing solicitor will ensure that the terms are clear, compliant with the relevant laws, and protect the interests of their client.
For Landlords and Tenants involved in commercial lease renewals, having a commercial conveyancing solicitor can provide peace of mind, ensuring that your legal rights are protected. It’s important to choose a solicitor with experience in commercial property to get the best advice and representation during the lease renewal process.
Lease Variations
You don’t have to create an entirely new lease if you want to change some of the terms. If you and your freeholder/leaseholder can agree on the changes, a solicitor can help you create a deed of variation of lease which will set out what is to change. All parties involved will need to agree to the new terms before the lease can be varied.
The process is not dissimilar from the way leases are varied for residential leasehold properties. Our commercial conveyancers have the expertise to deal with your Deed of Variation in order to vary an existing lease.
Break Clauses
Break Clauses in commercial leases allow either the landlord or the tenant to terminate the lease before the end of its fixed term. These clauses can be complex, and having a commercial conveyancing solicitor involved in the process if often crucial. We can review the existing lease agreement to determine if a break clause is present and what the specific conditions and requirements for invoking it are.
Your commercial conveyancing solicitor can provide guidance on the conditions that must be met for a valid break notice, such as timing, notice periods, and any contractual obligations. These clause often involve significant financial and legal implications, so having a solicitor with expertise is essential for both landlords and tenants to protect their interests and navigate the complexities of the process effectively.
Stamp Duty Land Tax on Commercial Leases
Stamp Duty Land Tax (SDLT) may be payable when taking on a new commercial lease if there is a premium being paid and/or the rent you will be paying is above the threshold bringing it into the realms of Stamp Duty. SDLT on new leases is charged on the net present value (NPV) which is calculated based on the premium and the rent due under the lease. Once the NPV is calculated, SDLT on the first £150,000 is charged at 0% and anything over this value is charged at 1%. If there is a rent review in the lease, a further calculation might be required at the end of the rent review year and another calculation once the new rent is agreed. You must also note that if VAT is charged on the rent, this is also taken into account when calculating the NPV.
If you are taking on an existing lease, at zero premium or a premium below the threshold then no SDLT will be payable. Contact one of our commercial conveyancers for further SDLT advice or an estimate calculation.
How to Choose a Commercial Conveyancing Solicitor
Choosing a commercial conveyancing solicitor is an important decision, as it can greatly impact the success of your commercial property transaction. When selecting a commercial conveyancing solicitor, you will need to consider a variety of factors. You will need to look for a solicitor who specialises in commercial conveyancing and has a track record of handling similar transactions. When considering a commercial conveyancing solicitor, it is essential to take into account their reputation and reviews. This can give you an idea as to their professionalism, and reliability. You would also be able to make an informed decision.
Once you have made up your mind, you should also request a clear breakdown of the solicitor’s fees and billing structure. This will help you understand how costs will be calculated, and any potential additional expenses.
Ultimately, your choice of a commercial conveyancing solicitor should be based on a combination of factors. At SMB Solicitors, we are confident to say that we are strong in all aspects from reputation, and reviews, as well as providing comfort and trust in our ability to handle a specific transaction. We also provide a detailed breakdown as to fees at the outset of the transaction, and prior to providing generic fees, we ask a series of questions to ascertain the transaction itself.
