Commercial Property
Commercial Property
Buying Commercial Property
Stephen Scott and Company Solicitors in Newtownards prides itself on delivering a first rate, efficient and personal service to private client individuals and businesses.
Buying property is an important decision for any business regardless of size. We have acted for both small to medium sized and large companies in property acquisition and property leasing. We can assist you in all aspects of buying, including choice of lender and negotiating with them to achieve the best possible deal in borrowings.
Full enquiries should be made in respect of survey and environmental enquiries and investigations into what may affect the property, such as pipes, cables, asbestos content and other access points of services.
Also, be careful when buying property at auction as it may not have been adequately surveyed.
Commercial leasing – acting for both landlords and tenants
In relation to leasing, we have expertise in acting for both commercial landlords and tenants. Issues arise and care needs to be taken as to the terms of the lease, with particular reference to repair covenants and rent reviews.
The purpose of rent reviews is to increase rent over the time of the lease. One must remember that once a lease is executed a tenant is committed to the landlord to pay the rent for the term of years of the lease unless the landlord agrees to release a tenant. As a consequence, detailed negotiation and discussion and legal advice is essential prior to the execution of a document.
We can give advice and assistance on condition reports, surveys and break clauses and can act on your behalf if you are a tenant. We can also assist if you are a landlord in producing a fair, but satisfactory lease that is to your advantage.
Many individuals and businesses execute leases without legal advice and subsequently find themselves in difficulty. The obvious temptation is to get a business and new shop unit or building up and running as quickly as possible, but you must remember that when you commit to a lease and fitting out costs, the costs can be substantial, therefore sound prudent advice is required.
If you want to discuss a case where you think we can help you, contact us on 02891 821 700 or email info@stephenscottsolicitors.com for a free initial discussion today.
