We, as a firm, are experienced in dealing with commercial sales and purchases for a most diverse range of businesses including, for example, factories, newsagents, pubs, restaurants and any other type of business that can be named.
The procedure for commercial sales and purchases is for the most part the same as domestic sales and purchases with a few variations. The property transfer works in a similar way but there is additional work in that (depending on the type of premises being purchased) a Liquor Licence may be required particularly in the case of a restaurant or any other type of business where alcohol is sold.
In the case of commercial property this usually (although not always) involves the granting of a new Lease or taking over an existing Lease. Therefore, checks are required to ensure that the terms of the Lease are suitable for the clients needs and that the premises have the correct user, for example, A3, A4 or whatever user is needed.
It will also entail dealing with landlords solicitors to ensure that they give their consent for the transfer of a Lease or if they need to grant a new Lease. This can be quite involved where the Lease may have to be amended to comply with current regulations or a new Lease granted. Once this has all been agreed and completion has taken place notice is then served on the landlords confirming the transfer.
In order for the client to understand the different stages of the transaction this page should be read in conjunction with the domestic sales and purchases as the various stages shown on that page will also apply to this one save that there will be additional work required, for instance, if a Liquor Licence is required we will need to apply to the Justices Licensing Commission and deal with any of their requirements.
It will also be necessary for the buyers/sellers to attend at these offices to provide proof of identification. This means that the client will need to attend at these offices with an original current Passport and also two up to date (less than three months old) utility bills, bank statements or council tax demand in order for us to comply with the relevant legislation.
For this an appointment will need to be made with the relevant fee earner so that the client is not disappointed if the fee earner is not available as well as the fact that the client may have taken time off work and therefore, having had a wasted journey will not be very happy. Keeping clients happy is very important to us as a firm and, of course, generates a certain amount of goodwill which, again, is important to us.