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Commercial Property
Most businesses need premises from which to operate.
The decision as to whether to acquire freehold or leasehold premises is usually made primarily on commercial grounds, but either option needs careful examination of the contractual and other legal issues.
If you lease premises you will need legal advice on the implications of the terms and conditions of the lease and the implications and potential liabilities of the obligations you will be accepting.
Almost certainly the lease will contain provision for rent reviews. These can lead to disagreements between the parties and failure to take specific action at appropriate times during the negotiations may result in serious consequences.
If you choose to purchase the freehold of the premises you will require legal advice on the contract of sale, the purposes for which the premises may be used, the financial aspects, and other matters.
Whether you choose to lease or purchase we can advise you.
For further information please contact Mark Hammond.
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