What kind of things can a commercial property lawyer help me with?
Experts in property law can assist with all legal aspects of commercial property leases (retail or office) and agricultural (farm business) tenancies, such as lease grant, lease renewals, variations, surrenders, forfeitures, sub-lettings, and assignments. They would be able to help you with every stage of the leasing procedure, from initial writing to final completion, including any Stamp Duty Land Tax and land registration formalities. In addition, many firms have a specialised litigation team that may assist with property issues as needed.
Purchasing/Selling Businesses and Real Estate
A team of experienced and diligent property lawyers can help with all elements of purchasing and selling a corporate or other organisation with a property component. There are two situations in which property is included in the sale of a corporation rather than the property asset alone (without a corporate 'wrapper'): the first is when the primary goal is to purchase a firm and all of its assets, including property (for example a distribution business will have leases of warehouses which are integral to its operations).
The other is where the primary goal is to buy the property as an investment or development opportunity. For tax reasons, it has become usual to own property under special purpose vehicles (companies, units trusts, and partnerships being some of the most common holding structures, sometimes offshore). In either case, a selling agreement of some kind, as well as due diligence on the firm and its assets and liabilities (including property), will be required, and the commercial and commercial property teams can help with this because they have vast knowledge in both areas.