Leave your commercial conveyancing to First4Lawyers

What is commercial conveyancing?

Conveyancing covers the whole process that enables the transfer of title on a property from one person to another, and involves all kinds of legalities and official procedures.

Commercial conveyancing can be more complicated than residential conveyancing, for the simple reason that commercial properties often have a more detailed history that requires a larger amount of research before the transfer of title can go through.

Other issues, such as the termination or extension of lease agreements, or the licensing regulations for establishments such as pubs, restaurants, and bars, can also add layers of complexity to the process.

Commercial conveyancing is required for the sale or purchase of all kinds of premises, such as those used in hospitality (bars, hotels, guesthouses, restaurants, and night clubs) as well as off-licences, offices, shops, nurseries, care homes, and more.

What does commercial conveyancing involve for the buyer?

The first step of the process is a thorough investigation of the property and its title by your appointed solicitor, including any necessary pre-contract searches.

The solicitor representing the property seller will provide a draft contract, which our solicitors can review once searches have been carried out.

If the searches raise any issues with the seller’s contract, we would raise this in the form of Commercial Property Standard Enquiry forms (CPSEs).

We would also handle Stamp Duty Land Tax and mortgage finance, where appropriate, at this stage.

Once the contract has been amended as required and both parties are satisfied, the contracts will be exchanged making the deal legally binding.

At this point you will need to pay the deposit, if one has been agreed.

The completion of the purchase involves sending the balance of the purchase price to the seller.

We would then register the transfer of title with the Land Registry, where necessary.

What does commercial conveyancing involve for the seller?

You will need a specialist commercial conveyancing solicitor who can prepare the contract of sale and assist you with the filling out of any CPSE forms that might be sent by the buyer’s solicitor. This ensures the buyer is fully aware of the building’s history, as well as its fixtures and fittings.

Following the exchange of contracts, your solicitor will approve the transfer deed provided by the buyer’s solicitor, and the transaction will proceed towards completion.

If there are any outstanding payments to be made, or charges on the property, these will need to be settled upon conclusion - including any payments that might be owed to you by lease holders or tenants.

How can First4Lawyers help with the commercial conveyancing process?

The conveyancing process can become more difficult if problems arise with the termination, transfer, extension or renewal of leases.  Our solicitors are well versed in dealing with tenants and leaseholders, as well as the regular contract and conveyancing procedures.

We can also offer help with possession proceedings, dilapidations, rent review issues and development planning.

Whether you are buying or selling a commercial property by private tender or auction, we can provide property specialists to make sure it all goes through smoothly.

Contact us for a no-obligation chat about your requirements.