At BuchananBurton, our specialist Commercial Property Solicitors can help with every aspect of your commercial property purchase. Whether you are a business looking for new premises, an investor searching for a project property or a commercial landlord hoping to expand your portfolio, contact BuchananBurton today and we will help you achieve your commercial property aspirations.
Commercial leases are binding contracts between a commercial landlord and a business tenant that allow the tenant to use the property for a commercial activity for a set amount of time in exchange for rent. Commercial property law is complex, and commercial leases tend to be granted for between 5 and 10 years, so it is vital before you sign a lease that you seek expert legal assistance to ensure the terms you are about to agree to are acceptable. We can help you review and negotiate the full range of commercial lease terms, including:
- Repairs. Usually the tenant has full responsibility for carrying out repairs, and for paying the landlord’s premium on the buildings insurance policy.
- Dilapidations. At the end of a lease, the landlord will serve a Schedule outlining what repairs need to be made to put the property back into the condition it was in prior to the lease commencing. However, some of the things outlined in this document may not be the tenant’s responsibility.
- Alienation. A tenant cannot just surrender their interest in the lease unless they are granted a specific right to do so. Usually, if a tenant wants to dispose of their interest in the property, they must find someone else to take it over. This is called assignation.
- Fees. In addition to rent, a tenant might need to pay local authority rates, insurance premium, service charge, VAT on rent and possibly the landlord’s legal fees.
- Reasonableness. In Scotland, the law does not assume that a party will act reasonably unless it is specifically stated. This means it must be clearly stated that the landlord will use their discretion reasonably.
- Time. Timescales laid down in the lease should be strictly adhered to.
- Termination of the lease. Just because the lease has reached its end, does not necessarily mean it has ended. Notice must be served by either party on the other. If this does not happen, the lease will continue on a year-to-year basis.
We can assist throughout the commercial lease process, from finding the right property to signing the lease, so contact us today to get your transaction started.
Buying Commercial Property
If you are looking to buy a commercial property, such as an office, retail or leisure premises, the Commercial Property Lawyers at BuchananBurton can help you find and purchase a property that meets your business needs. We can provide advice and assistance throughout your purchase, including on:
- Financing the purchase (e.g. with a commercial mortgage).
- Putting in an offer and negotiating a purchase price with the seller’s agent.
- Making sure all title and local authority searches are clear, including:
- title; rights of way; boundaries; use of property; disputes; utilities; and mining or environmental issues.
- Negotiating final details of the contract with the seller.
- Arranging a commercial property survey.
- Arranging local authority planning consents (if you plan to develop the property).
- Exchanging contracts.
- Land and Buildings Transaction Tax (LBTT) and VAT.
- Registering your property with the Registers of Scotland.
Contact our Commercial Property Solicitors – Providing Legal Services within East Kilbride, Hamilton, Strathaven & Glasgow South Side
At BuchananBurton, we speak your language. We will be with you every step of the way to ensure that the purchase of your commercial property goes through with minimal fuss.
Our advice is down-to-earth and practical – giving you real solutions to your everyday problems. Our solicitors offer cost-effective solutions to your legal needs, ensuring you have a good understanding of your options every step of the way. We serve clients in East Kilbride, Strathaven, Thorntonhall, Carmunnock, Hamilton, Clarkston, Busby and the surrounding areas.
Pop into our office, give us a call on 01355 249 228 or contact us via our online contact form and someone will be in touch shortly.