What is Commercial Conveyancing?
Ali Gurler
Property Law Consultant Solicitor
Commercial conveyancing is the process of transferring the legal ownership of a commercial property, either leasehold or freehold, from one party to another.
The term “commercial property” refers to business premises such as hotels, industrial units, retail premises, cafes, restaurants, pubs, cinemas, gyms, storage facilities, offices etc.
The commercial conveyancing process is very similar to residential conveyancing.
The solicitor acting for the buyer will:
- investigate the title and report on any issues to the client
- order commercial property searches and report on the results to the client
- review the contract and replies to Commercial Property Standard Enquiries (CPSE), raising further enquiries if needed
- make sure the property can be used as per the client’s intended use
- exchange contracts and complete the transaction
- complete the transfer and register the new owner with HM Land Registry
- submit Stamp Duty Land Tax forms to HMRC
On the other hand, the solicitor acting for the seller will:
- draft the contract, produce the title deeds, lease and other relevant documents
- complete the Commercial Property Standard Enquiries
- review and negotiate the terms of lease, transfer deeds and purchase and sale contract
- provide replies to enquires raised by the buyer’s solicitor
- exchange contracts and complete the transaction
- repay any outstanding mortgage
Commercial conveyancing also includes occupying a commercial property by way of grant of a new lease. If you are a tenant, you will need to negotiate the terms of the lease with the Landlord. There are numerous critical points when drafting a new lease and it would be wise for a landlord and tenant to consult a commercial property solicitor. Our expert solicitors would make sure that you, whether you are a tenant or landlord, are properly covered under the lease terms.
Our commercial property solicitors have in-depth expertise on all matters above namely, the buying, selling, leasing, and development of commercial property and land.
Please give us a call or email us to get in touch with one of our commercial property solicitors.
A warm welcome to GOOD LAW INTERNATIONAL. To learn more about us and our practice areas, we invite you to browse through our website and contact us or book an appointment.
