Commercial Property

There is little room for sentimentality when you purchase Commercial Property and most people purchase Commercial Property for one of two reasons: 

1. To use the Property in their business
2. As an investment       

Either way, or whatever your reasons for buying you have to do your homework. We offer a comprehensive commercial property service and we frequently team up with professionals from other disciplines to provide a project approach to transactions as and when required.

Here’s a list of some of the things you should consider: 

• Why do you want it? 
• How do you intend to buy it?
• Will you buy it personally or will your company?
• Will you have a co-owner?
• Do you have a partnership agreement?
• Will you buy the asset or the company which owns the asset?
• Are you buying it from your company?
• Is the title good?
• How long do you intend to hold it?
• Will you eventually sell it or leave it to family?
• Is it Freehold or Leasehold property?
• If Leasehold, what are the conditions of the lease?
• Is it in a good area?  
• Is it managed? By whom and at what cost?  
• How are you going to fund it?
• Will your bank fund it?  
• What security will they want?  
• Can you give it to them?
• Will they require personal guarantees? =
• Can your Company fund it?
• Can your Pension Fund buy it for you?
• Are there any tax breaks?
• Are the tax breaks transferable?
• How much stamp duty are you going to have to pay?
• Is VAT applicable?
• Do you have to charge VAT on the rent?
• Can you claim capital allowances?
• What’s the current use?
• Can it be developed or redeveloped?
• What is the most tax-efficient structure for development?
• What is “self-supply”
• How is it serviced?
• Can you connect to further services?
• Can you widen the approach road for development?
• Will development charges be levied?
• If you develop an estate, how can you exit while waiting for the local Authority to take the estate in charge?
• Why should you not set up a management company limited by guarantee?
• What are your Company Law obligations?
• What’s the current planning status?
• Is it compliant with Planning Laws?
• Is it compliant with Building Regulations
• Is it compliant with Fire Regulations?
• Are there sitting tenants?
• Do you have any obligations to employees?
• Are there any environmental considerations.
• If it’s a pub or hotel, is the licence in place?
• Can the licence be sold?

The list above is far from exhaustive. Please get in touch to arrange a preliminary meeting to discuss your commercial property acquisition.