The property needs of a business are always changing. You might be purchasing or selling (both land and/or business or parts of such), leasing or looking to enter into other types of transactions (such as obtaining security, option or overage agreements).
In relation to commercial property we recognised that each owner, tenant, prospective purchaser or investor will have their own specific needs and circumstances. With over 35 years combined experience between our commercial property solicitors, we have helped hundreds of individuals, partnerships and companies through a wide variety of transactions ranging from thousands to millions of pounds.
Types of transactions we commonly act in:
If you wish to make an enquiry, please contact us on 01795 664431 and ask to speak to either Mr Timothy Bancroft or Mr Samuel Bancroft.
Each transaction involving the purchase and sale of a business will have elements very particular to the circumstances and in assisting you we always look to provide as clear commercial and practical advice as possible.
Our work in acting for you can often involve a wide variety of tasks, such as:
We act for both Landlords and Tenants in relation to Leases of commercial property. In doing so we typically act and advise on the following:
Option Agreements are entered into by an owner and a potential purchaser in return for a non-refundable sum of money (or other consideration), for a certain period of time. These agreements are usually used to secure an potential opportunity prior to expenditure on pre-purchase steps (particularly when an outcome cannot be guaranteed, such as whether or not planning permission [or planning permission in a certain form], can be obtained). Depending upon the circumstances there are different types of agreement:
Overage Agreements are a way of a seller benefiting financially from future increases in value of property. The Agreement, which is part of the sale, entitles the seller (who was the owner), to a proportion of any future financial increase in the value of the property (i.e. if the property obtains planning permission), if such takes place within an agreed period of time.
Purchases and sale of development land, and subsequent plot sales prior to, in the course of or after the development has been completed often require detailed legal advice from the outset as there are often a variety of actual and potential issues affecting land in addition to a variety of options surrounding the mechanics of the transaction(s); such areas often requiring our assistance are rights of way and access to the site, roads, sewers, drainage, boundaries, planning consent(s) and restrictive covenants which would prohibit or hinder development.
Collateral warranties are contracts between main contractors, sub-contractors and the professional consultants (such as architects and surveyors) involved in the construction of commercial property. Under the collateral warranties such parties warrant the effect of the terms within the relevant underlying contracts; i.e. the architects underlying contract shall contain terms as to the design (e.g. quality of), etc.
The collateral warranties are then granted in favours of developers, investors, purchasers, tenants and lenders of the property constructed.
Ensuring not only that such are in place but that the terms provide sufficient coverage is of vital importance for any owner/occupier/lender.
We frequently act and advise upon a wide variety of types of commercial property litigation such as: