AN LAw - We put YOU first...

Most businesses need premises to operate from, and getting the right premises, at the best terms, is one of the most important commercial decisions business owners can make.

It is also a minefield.

The key decisions a buyer will have to take in agreeing to lease commercial property, after deciding whether the premises are in the right location for the business, and are fit for the purposes of the business, include:-

Prospective tenants should investigate the background of the premises before signing up to a lease (though many don’t). Does the landlord own the premises? On what tenure? If a landlord has a bank loan charged on the property, do they have the bank’s consent to let the premises? Is there adequate buildings insurance in place to cover the business? Do the premises need any rights of access over adjoining land, and can the landlord confer those rights on a tenant?

There are also hidden costs to consider – leases over seven years have to be registered at the Land Registry; and stamp duty is payable on new leases where the aggregate rent is over £150,000 and also has to be “topped up” on rent reviews. Even if none is payable, the Inland Revenue have to be notified on many lower value leases.

At Albinson Napier we have extensive experience of giving advice to prospective tenants , and can offer an all round service informed not only by technical knowledge, but also by commercial awareness and understanding.

Our service is affordable – the average costs of a commercial lease will be around £1000 plus VAT, but we will always give a quote tailored to individual needs before agreeing to act. That will include Disbursements like land registry fees and stamp duty as required.

If you want an informal discussion as to any tenancy prospect, please call or e-mail our Commercial team, Tim Napier, Richard Napier or Graham Wright for a no-commitment chat.

If you require a highly professional conveyancing advice, please get in contact with a member of our experienced team to discuss this further.

Please email info@anlaw.co.uk or call 01925 634681

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Albinson Napier Ltd. Registered in England & Wales. Company No. 08755592. VAT No. 152416489

Registered Office: 20 Bold St, Warrington WA1 1HP

Authorised and Regulated by the Solicitors Regulation Authority SRA Number 611814.

The SRA Regulations can be found at www.rules.sra.org.uk. We are committed to promoting equality and diversity in all our dealings with clients, third parties and employees. We are a Signatory to the Law Society Diversity & Inclusion Charter.

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