
Buying & Selling Commercial Property
Whether you are looking to buy or sell commercial property in prime central London or beyond, instructing an experienced, attentive and transparent solicitor to guide you through this process, can save you considerable costs and time. Avoid hold-ups and issues throughout the process with solicitors who understand the legal and procedural framework that govern these transactions in England and Wales.
Our Commercial Property team can help
Commercial Property is a wide asset class encompassing shops and restaurants, factories and warehouses, hotels, gyms and offices. Whether you are dealing with a single unit in a large development, a small shop on the high street, or an entire business park, the sale or purchase of a commercial property involves a number of considerations which can be overwhelming for any client.
It is therefore important that you instruct an experienced and agile team to advise you on the legal and practical implications of your sale or purchase throughout the transaction.
Knowing what will be expected of you from the outset in terms of paperwork, finance and communications with third parties, will also help you get a head start on the process, allowing you to complete with minimal fuss, stress or delays.
At Hanne & Co, our Commercial Property team have advised individuals, SMEs and globally recognised franchises on their acquisitions and disposals of a range of commercial property types. Ensure that you are know all you need to know about the process and your rights and obligations under the sale contract by contacting our Commercial Property team today for support.
Commercial Property Litigation – FAQs
This depends on the scale of the transaction and complexity of the title. The sale of a small commercial building will typically take between 2-3 months to complete, but the purchase of a large development may take years, particularly where the buyer is obtaining funding from more than one source.
Yes, a landlord may sell a commercial property which is subject to an ongoing lease. This will involve the freehold changing hands (i.e., as opposed to the leasehold interest granted by the lease), and the buyer simply taking over as the new landlord. The lease does not need to be varied to reflect the change in landlord, however the new owner of the commercial property will need to be registered as such at HM Land Registry.
Anyone can purchase a commercial property, from local business owners to developers, banks, and foreign investors, provided they satisfy their solicitor’s KYC (Know Your Client) and Anti-Money Laundering (AML) checks. Additionally, overseas entity must be registered on the Register of Overseas Entities pursuant to the Economic Crime (Transparency and Enforcement Act) 2022, in order to purchase commercial property in England and Wales.
Yes, you must have a valid Energy Performance Certificate (EPC) to sell your commercial property, unless one of the government apply. For example, an EPC is not required for the sale of buildings used as a place of worship, or of temporary buildings that will be demolished after two years. Failure to supply a valid EPC may incur you a fine of up to £5,000.00.
No, you would only be able to occupy a commercial property for residential or personal use, if you have obtained planning permission authorising a change of use from commercial to residential. This will require an application to the relevant local planning authority.