What they handle
- Buying and selling commercial property and land.
- Negotiating and reviewing commercial leases, including rent reviews, break clauses and repairing obligations.
- Property finance and security for lenders.
- Development work, such as option agreements, planning agreements and site assembly.
- Lease renewals and dilapidations.
Before you sign a lease
Heads of terms are usually agreed before a solicitor is involved, but once a lease is signed its terms are very hard to change. Ask a solicitor to review the heads of terms first, particularly the length of the lease, break rights, repair obligations and any personal guarantees.
Questions to ask a commercial property solicitor
- How many cases like mine have you handled recently, and who will do the work day to day?
- How do you charge (hourly, flat fee or contingency), and what will the total be, including expenses?
- What are the main stages, risks and likely timescale?
Frequently asked questions
How long does a commercial property purchase take?
Typically between 6 and 12 weeks, although complex sites, planning issues and finance can take longer.
What is a full repairing and insuring (FRI) lease?
It is a lease where the tenant is responsible for all repairs and for the cost of insuring the building. This can be expensive if the building is in poor condition.