Commercial Property

In order to sell a freehold title which is subject to long leases of residential flats, you must first offer the leaseholders the right of first refusal, unless the transaction falls within one of the statutory exemptions – of which there are many.

We can advise you on your options, and how best to proceed. The law and procedures in this area are quite complex and you should have an experienced solicitor to guide you and prepare the necessary documentation in order to ensure you take all the necessary steps to achieve your goal of selling the freehold for the best price. Failure to comply with the law in this area may be a criminal offence.

If you have been served with a formal section 42 notice requiring you to sell the freehold by the leaseholders, we can help you ensure that you obtain the best price and terms possible for the sale.

You may have adjoining property which you need to protect, and you may have development value that you need to realise.

It is important to seek experienced legal advice. Eden Solicitors can protect your interests in all commercial property-related matters.

We offer a prompt and efficient service and sound legal advice to clients who are purchasing a property. We also advise clients in the management and development of property.

We act for companies, businesses and individuals, and adopt a commercial and practical approach on each matter. Employing the latest technology, we aim to deliver the highest standards of service efficiently and at a competitive price.

Leases of commercial buildings can prove to be complex documents, governing the relationship between landlord and tenant for terms which commonly extend to 25 years.

Arguably, the most complex provisions of the lease are those relating to rent review. It is an area that has taken up considerable court time and expense to determine disputes between landlords and tenants regarding the amount of rent passing at various stages throughout the life of a lease.

To minimise the risk of unwelcome resistance, delay and expense when the rent is being reviewed, both landlords and tenants ought to ensure that they are fully aware of the rent review provisions of a lease when taking an existing lease of commercial premises or that they ensure that time is taken to carefully negotiate those provisions on the grant of a new lease.

A Lease is a contract between a Landlord and a Tenant for a fixed period.

When the fixed period comes to an end the Landlord and Tenant may want to enter into a new Lease. A new Lease needs to be agreed by the Landlord and Tenant. A Lease Renewal needs proper care, attention and Legal Advice, to ensure that you as Landlord or as Tenant are properly protected. The Legal Advice will involve many of the same areas as are involved with Negotiating and Drafting Leases
Other Points

A Lease Renewal may be within a statute known as the Landlord & Tenant Act 1954. This entitles a Tenant to a new Lease subject to certain reasons which allow a Landlord to refuse a renewal. To discuss this particular area further please contact us.

How we can help?
Eden Solicitors can work with you to ensure that the Lease Renewal achieves what you want and need.

The purpose of this brief is to provide you with an insight into the content of a commercial lease and the processes leading to its grant.

The grant or taking of a commercial lease involves very significant responsibilities and obligations. It is tempting (whether you are a landlord or a tenant) to proceed to completion of the lease as soon as possible – after all, it is at that point that the landlord starts to receive rent and the tenant has the benefit of occupation. However, it is important that proper consideration is given to your needs and the possible effect on your business of each particular lease:-

1. A lease wrongly biased in favour of a tenant may affect the value of the landlord’s freehold interest. A lease wrongly biased in favour of a landlord may make that lease an onerous liability which the tenant cannot assign and release himself from.
2. A lease which fully reflects your needs should enable the landlord and the tenant to understand their legal position between one another with clarity and certainty for years to come.
3. Even if the lease is for a relatively short term, they are often renewed. On renewal, the same terms are generally incorporated. In other words, do not be lulled into thinking that “this is just a short lease” and that its terms are less important.

We set out below a summary of the principal considerations and steps encountered in the grant or taking of a commercial lease. A number of steps are required even before the lease itself is considered. You need to allow sufficient time for these steps to be taken before you agree on a completion date.

The owners of flats, in a building, collectively (as a majority) have the right to purchase the freehold. This is known as collective enfranchisement. The ability to buy the freehold offers a number of advantages.

These include: –

• the ability to exercise real control over the management of the building;
• the freedom to choose how best the building is insured;
• When & what repairs and maintenance take place are decided upon by those who own the flats in the building.

If you own a flat and are concerned about and/or interested in buying the freehold, then Eden Solicitors has the professional expertise to help you.

The management, purchase, sale and leasing of commercial property represent important strategic and operational decisions for your business. After all, commercial property is a significant investment and you need to ensure that it’s managed carefully to protect the long-term needs and interests of your business.

As specialist commercial property solicitors, we provide legal advice, guidance and support to a variety of businesses throughout the South East and beyond. Our clients range from individual owner occupiers and small family businesses, though to residential developers and commercial investors.

We regularly work with investors building up and disposing of their property portfolio, developers involved in residential and commercial development schemes, buy-to-let landlords and prospective tenants looking to rent suitable premises.

We can also provide support in specialised areas, such as investing in commercial property through pension funds.