Commercial Property & Conveyancing

One of the biggest investments you will make

What is commercial property law?

Commercial property can represent one of the biggest investments you or your company can make. Whether you are considering granting or taking a lease of business premises, selling or buying, or are considering buying or selling land for development, expert professional legal advice is essential.

You can expect tailored, trustworthy commercial property advice and guidance. Our skilled and experienced staff will work closely with you to find the best solutions to your specific needs. Even if you are facing the most technically complex legal issues, our strong contacts with other professionals and our extensive experience will mean that you will receive the best possible advice.

What commercial property law areas do we cover?

Commercial Property Enquiry

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What is commercial property law?

Commercial property can represent one of the biggest investments you or your company can make. Whether you are considering granting or taking a lease of business premises, selling or buying, or are considering buying or selling land for development, expert professional legal advice is essential.

You can expect tailored, trustworthy commercial property advice and guidance. Our skilled and experienced staff will work closely with you to find the best solutions to your specific needs. Even if you are facing the most technically complex legal issues, our strong contacts with other professionals and our extensive experience will mean that you will receive the best possible advice.

What commercial property law areas do we cover?

Commercial Mortgages 

We shall be happy to act for you and for your lender in the finance of your property. This would usually involve checking the title (to include any leases), putting in hand searches and, on a purchase, enquiries of the seller, to preparing reports and to dealing with registration formalities at both companies House and HM Land Registry as appropriate.

Business Leases 

It is imperative that with any lease the details are comprehensive and correct and commercial leases are no exception whether you are the landlord or the tenant. It is also vital that you understand the terms of the lease and obligation placed upon you.

Business Leases

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Freehold & Leasehold Sales

We shall be happy to act on your behalf in any freehold or leasehold sale. Each transaction comes with its own, very often complex, set of circumstances. For example, with a sale of a building comprising a mix of commercial and residential leases it may prove necessary to offer the tenants a right of first refusal.

With the sale of a lease you may need to procure your landlord’s consent and you may also be liable to guarantee the incoming tenant pursuant to an Authorised Guarantee Agreement. It is important that you full understand your obligations.

Land Development 

Mullis & Peake LLP has a long history of acting for land developers and are an intrinsic part of any development scheme.

Land Development

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Leasehold Enfranchisements 

Collective enfranchisement is the process by which a group of leaseholders in a block apply to purchase the freehold.

Leasehold Enfranchisement

Lease Extensions 

If you own a flat with a long lease you need to be aware of the remaining term of years left on the lease as you may require a lease extension. This affects the value of your flat and ability to sell and/or remortgage.

Lease Extensions

Commercial Property Disputes

Whether you are a Landlord or Tenant of a commercial property, disputes can arise and when they do, they can involve complex areas of law. It is therefore important that you seek the correct advice to ensure that your investment is protected.

Commercial Property Disputes

Service charge Disputes

Service charges enable landlords to recover the costs they incur when providing services to a property.

Service Charge Disputes

Rent Arrears Recovery

Rent and service charge arrears are probably the most common causes of disputes between a Landlord and Tenant.  Landlord will often have a number of options available to them to try and recover the arrears.

Rent Arrears Recovery

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Recent cases

  • Refinancing of a development site to Homes England for £9 million
  • Purchase of land from a university for development for £3.3 million
  • Sale of land by a rugby club for development including negotiating overage
  • Option agreement for development land at price of £2.3 million
  • Negotiating a s106 Agreement for a development of 24 flats
  • Refinancing a portfolio of properties for £1million
  • Sale of development properties to a Housing Association for £3.2 million
  • Sale of a development site in Romford for £4,250,000.00 with a lease back for the client of part
  • Completed the purchase of a mixed development of commercial and residential units in Leytonstone for £3,850,000.00 which commenced with an exclusivity agreement and a strict timetable as a result
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The team covers all areas of commercial property and conveyancing law.

Frequently asked questions

Commercial property is buildings and land that are intended for profit-generating activities rather than regular residential purposes. Commercial property includes: office buildings, medical centres, hotels, retail stores, eateries, warehouses and garages.

Commercial conveyancing is similar to residential conveyancing - it is the process of transferring the title of a property from one person or company to another or dealing with commercial property title. Commercial conveyancing is usually carried out by a solicitor or licensed conveyancer.

Commercial property solicitor's responsibilities and duties are varied, often spanning broad and complex caseloads. They represent a range of clients advising on matters such as:

  • The sale and purchase of land or property
  • Development, infrastructure and planning projects
  • Property finance and investment
  • Leasehold management
  • Drafting, negotiating and completing leases and supporting documents
  • Landlord and tenant disputes
  • Regeneration projects
  • Property litigation

Unlike with residential conveyancing where costs to be fixed fee, commercial property solicitors charge according to time spent on a matter. The hourly rate of a solicitor varies depending upon their level of experience and qualification.

We also provide an estimate at the outset of the transaction based upon the information to hand and will endeavor to keep costs within that estimate wherever possible.

A tax payable on transactions involving land. Available on both freehold and leasehold transactions. On freehold transactions it's payable by reference to the actual amount you pay. Whereas with leasehold transactions, if you're paying a premium for the lease and you're also paying rent then it will be payable on both. SDLT is calculated by reference to a formula which is quite complicated to use. In this case, will help people arrive at what's called the net present value and that's the value upon which the duty is chargeable.

Land is generally exempt, but a landowner or landlord can opt to tax the property in which case VAT will become payable. VAT is automatically payable on new build commercial property of less than three years and this needs to be factored in because it has an impact on stamp duty land tax payable in respect of the land as well.

If you're buying property, the main costs will be the premium or the purchase price of the property itself, you may also pay a premium for acquiring a lease. With a lease the main cost will be the rent and of course whether VAT is payable upon the rent. You also must consider service charge payments and surveyors fees in addition to legal fees and land registry fees.

Whether or not SDLT is payable on a commercial property is a matter of fact in each case. If the property is above a certain threshold, then SDLT will be payable. With leasehold properties care needs to be taken as it can also be payable on rent and the consideration. Whereas in the case of freehold properties on consideration only.

OUR CLIENTS SAY ABOUT US

Ranked highly in Romford and Brentwood for Commercial Property & Conveyancing

Commercial Property
Excellent service and far quicker than previous negotiations using a different solicitor.
John
Commercial Property
This is the third time I have used the services of Mullis and Peake I highly recommend this law firm I have used them for both commercial and residential sale.
Paula
Commercial Property
We were very pleased with the services and the speed and accuracy of responses.
YRD
Commercial Property
Very Helpful and contactable at all times
Michael
Meet OUR people

Corporate and Commercial Team

Mullis & Peake’s Company and Commercial Team can take care of the detail of company and commercial law, assist you with your commercial property requirements and provide valuable support when commercial disputes arise. Our specialised and highly qualified team can also guide you through employment law red tape or provide you with professional advice and guidance on mergers, acquisitions and disposals.

Member

Denise Madams

Denise is a Member at Mullis & Peake and ​specialises in commercial and company work

Contact Denise
Head of Property

Joanne Wood

Joanne Wood is a ​Member and our Head of Property

Contact Joanne

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