Sales & Purchase

Buying and selling business premises are often complex and are likely to involve consideration of many of the following issues on which we advise:-

The negotiation of the purchase price

We will assist you to obtain advice from surveyors and structural or environmental engineers, so that the real value of the property can be ascertained at an early stage, which will avoid the Buyer incurring unnecessary expense.

Completing a purchase or sale transaction within the required timescale and at a competitive cost

We will discuss both the timing and the cost with you at the very beginning of the transaction so that you will know exactly where you stand. Additionally we will keep you regularly informed on both issues as the matter progresses.

Searches and pre-contract enquiries

This will for example, include advice on planning matters so as to ensure that your proposed use of the premises is the authorised planning use, and that any planning conditions are acceptable to you. We will also ascertain whether there are any adverse Local Authority proposals affecting the property, which might cause you to reconsider proceeding with the purchase.

The negotiation of the form of the Contract

The contract should properly record all aspects of the agreement between the parties. In particular there is a need for careful drafting if a sale and purchase contract is expressed to be subject to the Buyer obtaining planning permission, or (in respect of licensed premises) to the Buyer obtaining a Justices Licence.

Seller ' s title to the premises

The Buyer should be aware of all rights, reservations, covenants and conditions to which a property is subject. In particular, it is most important that development land or premises, which a Buyer proposes to develop or change the use of, are not subject to restrictive covenants precluding the relevant development or the change of use in question. Frequently land is affected by old restrictive covenants and we are well experienced in dealing with insurance companies to obtain a Restrictive Covenant Indemnity Policy so as to allow the Developer to proceed without the worry of a claim being made against him.

Value Added Tax

It is equally important for the Seller and the Buyer to understand the relevance of Value Added Tax to a commercial property transaction, and we are able to advise, (in conjunction with your Accountants) as to the desirability of the property owner making an election to tax in respect of premises and other related VAT issues.

Funding

It is most important that a Borrower has a full understanding of the many conditions attached to any loan before committing himself to the loan. We are able to advise on funding and can deal with the paperwork required by a Bank, Building Society or other Lender. Our independent Financial Services Department will also be able to advise on the most competitive and suitable mortgages for your situation.

If you are interested in our services please contact Lindsey Whittaker or Joanne Robinson.