Freehold and Leasehold Property
Whether you or your business are proposing to sell or purchase commercial premises, warehouse space, purchase residential property on a buy to let basis or land with a view to development, our commercial property team can assist you with your transaction.
We advise a wide range of commercial clients, such as:
- Businesses looking to move into or leave premises.
- Landlords looking to attract or remove a commercial tenant.
- Investors, developers or secured lenders looking to acquire or dispose of commercial property interests.
- Any other individual or business looking for advice about freehold or leasehold commercial property.
Having the right legal advice when handling commercial property transactions is essential to make sure that your interests are properly represented and protected, giving you a better chance of receiving a positive return and minimising the risk of disputes arising.
Our Commercial Property team are experts in all aspects of buying, selling and investing in property, including:
- Buying a commercial freehold or selling a commercial freehold
- Buying a commercial leasehold or selling a commercial leasehold
- Investing in buy to let property
- Buying or selling development land and property development legal advice
- Buying or selling property at auction
Our other commercial property expertise includes:
Why we are the right choice for commercial freehold and leasehold property advice:
- Decades of experience handling a wide range of transactions for individuals, businesses, developers and investors.
- Tailored advice that takes into account your goals and the commercial realities of your circumstances.
- Clear, practical advice about how to move forwards with your transaction.
- Firm representation should any disputes arise.
Speak to our commercial freehold and leasehold property solicitors in Sidcup, the London Borough of Bexley, Kent
For expert advice on any aspect of buying and selling commercial freehold and leasehold property, please speak to a member of our team today:
- Call: 020 8300 9321
- Email: email@example.com
What is the difference between freehold and leasehold property?
Your rights and obligations can vary greatly depending on how you own your commercial property. It is vital to understand the difference so you can make an informed choice about what kind of property best suits your interests and goals.
Freehold means that you own the entire property – including the land it stands on – for an unlimited period of time (until you choose to sell, transfer it or leave it to your heirs in your Will).
Leasehold means that you have a lease to occupy a commercial property for a certain number of years. As well as the price to purchase the lease, you will usually have to pay ground rent and service charges to the freeholder. You will also have other obligations and rights which are usually defined by the type of lease agreement you have and the precise terms of that agreement.
In general, freehold is a more stable form of ownership. It also gives owners more freedom to modify or redevelop the property (so long as they can get planning permission). So, it is popular with both investors as a steady return on investment and business occupiers.
However, although leaseholders typically have more obligations than they would have if they owned the property outright, leaseholds tend to be more flexible and affordable. For this reason, leaseholds are popular with businesses that mainly need a premises to occupy (rather than buying property as an investment in itself) and/or have plans to expand and grow.
Our commercial freehold and leasehold property services
Buying and selling commercial freehold and leasehold property
Our expert freehold and leasehold property solicitors can assist with every legal aspect of buying and selling commercial property. Our inclusive service includes:
- Drafting and reviewing heads of terms and sales packs.
- Preparing and reviewing sale and purchase agreements.
- Carrying out buyer due diligence to check every detail of the purchase.
- Assisting with the practical aspects of the transaction, such as:
- Boundary advice.
- Planning and building regulations considerations.
- Access and easements.
- Negotiating service charges or estate charges.
- Reviewing, negotiating and advising on the terms of the lease (if the property is leasehold).
- Handling exchange of contracts and completion.
- Filing tax returns, such as Stamp Duty, VAT and Capital Gains Tax returns.
Buy to let property
We can provide specialist advice on purchasing and selling residential buy to let property. Investing in buy to let property comes with its own unique challenges, from dealing with tenants to tax considerations.
Whether you are a first-time or accidental landlord, or you are an established landlord looking to expand, diversify or reduce your portfolio, our buy to let conveyancing solicitors can provide all the advice you need about the legal aspects of buy to let investments, including:
- Investigating title and carrying out enquiries and other property checks
- Preparing and reviewing contracts.
- Filing tax returns, such as Stamp Duty and Capital Gains Tax returns.
- Preparing and reviewing tenancy agreements and advising on landlord rights and obligations.
Buying and selling land and property development legal advice
The process of buying, selling and preparing land for development or another reason (such as for agricultural, investment or amenity purposes) differs considerably to the standard commercial conveyancing process.
We can assist with all types of land transactions, expertly handling the associated legal issues, helping you avoid pitfalls and giving you the best possible chance of maximising your return on investment.
Buying and selling property at auction
Buying or selling a property at auction requires a specialist level of legal advice. There are some great bargains to be had at auction. On the other hand, the legal risks can be greater, so doing your due diligence is essential.
The auction buying and selling process is also different to the standard process of buying and selling commercial property. For example, unlike a standard sale where the transaction only becomes legally binding once the parties have signed and exchanged contracts, an auction purchase becomes binding as soon as the buyer’s bid is accepted. So, having the right legal advice as early on as possible is invaluable.
Our specialist commercial property solicitors can guide you through the entire process of buying or selling at auction, handling every legal detail with care and expertise. Our service includes:
- Preparing and reviewing legal packs, such as:
- Carrying out or checking details of property searches.
- Making and responding to enquiries.
- Negotiating special conditions.
- Preparing and reviewing auction contracts.
- Carrying out buyer due diligence to check every detail of an auction property purchase.
- Handling exchange and completion.
Get in touch with our commercial freehold and leasehold solicitors in Sidcup, the London Borough of Bexley, Kent
For expert advice on any aspect of buying and selling commercial freehold and leasehold property, please speak to a member of our team today.
- Call: 020 8300 9321
- Email: firstname.lastname@example.org
- Chris Elliott
- Senior Partner, COLP, Head of Litigation